saudi airlines catering co. - … (6004.tdwl) had ... contact details institutional sales mena...
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BUY PT: SAR138.1
MODERATE RISK ETR: +56%Stock Performance (6 0 0 4)
Stock DetailsLa st price (SAR) 88.50
52-W Hig h (SAR) 145.75
52-W Low (SAR) 77.50
Muba sher Ticker 6004.TDWL
Bloomberg Ticker CATERING:AB
No. of Sha res (mn) 82
Mkt Ca p (SARmn) 7257.0
Mkt Ca p (USDmn) 1931
Free Floa t (% ) 35.4
Company Profile
Sa udi Airlines Ca tering Compa ny (SACC)(6004.TDWL), a Sa udi joint s tock compa ny(SJSC) , wa s founded a s a limited lia bilitycompa ny in Sa udi Ara bia in Ja nua ry 2008. Itwa s converted into a n SJSC in Ja nua ry 2011,a nd currently ha s a ca pita l ofSAR820,000,000 divided into 82,000,000sha res with a pa r va lue/sha re of SAR10. Thecompa ny provides ca tering a nd othera ssocia ted support services to: (1) a numberof loca l a nd interna ona l a irlines , includingSa udi Ara bia n Airlines (Sa udia ) a nd TurkishAirlines ; a nd (2) non-a irline customers ,which include la rg e corpora ons a ndeduca ona l ins tu ons , with opera ons inremote pa rts of Sa udi Ara bia . The compa nya lso opera tes its Sky Sa les (SS) bus inessonboa rd Sa udia flig hts a nd opera tes Al-Fursa n Loung es in a irports of Jedda h,Riya dh, Da mma m, a nd Medina under thebra nd na me of Al-Fursa n.
Mo hamed HamdyMa na g er - Equity Ana lys is
Muba sher Interna tiona l Moha med.Ha mdy@Muba sherFS.com
In i ts BOD mee ng held on 20 July 2016, Saudi Airline CateringCompany (6004.TDWL) had proposed a DPS of SAR1.75 for Q2 2016for shareholders as of 1 August 2016, whi le the dis tribution tookplace on 31 August 2016. Thus , we adjus t our price target (PT)downward by 1.3% from SAR139.9/share to SAR138.1/share,implying an expected tota l return (ETR) of +56%. Accordingly, wemainta in our Buy/Moderate Risk rating.
Saudi Airlines Catering Co.Rating/PT Change
Industrials | Saudi Arabia
Wednesday, 3 August 2016
Adjusting PT by Q2 2016 dividends — Buy maintained
Issuer of Report
Mubasher Financial Services BSC (c) is an Investment Business Firm Catego ry 1, licensed and regulated by the CentralBank o f Bahrain.Website: www.MubasherTrad e.co mE-mail: Research@MubasherTrad e.co m
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Contact Details
INSTITUTIONAL SALES
MENA
[email protected] m +9 71 4321116 7 (UAE) +9 6 5 9 7734334 (Kuwait) +9 6 2 79 5538 8 0 6 (Jo rd an)
Egypt
Institutio [email protected] +20 2 226 23310
RETAIL SALES
Bahrain
Glo bal@MubasherTrad e.co m Call Center: +9 73 8 0 0 56 7 0 0 0
Egypt
Egypt@MubasherTrad e.co m Call Center: 16 6 9 9 / +20 2 226 2 3230
Libya
Libya@MubasherTrad e.co m Call Center: +218 9 230 7 0 350
RESEARCH
Research Team
Research@MubasherTrad e.co m
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