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NCB Capital: strong performance of KSA retail stocks continues unabated

to the strong outlook of the sector,” said Farouk Miah, CFA, Head of Equity Research at NCB Capital. “For stocks ... commented Mr. Miah. “Despite expecting some weakness in 2H13 for Shaker, we believe the longer term demand outlook remains strong with Shaker well positioned to capture this.” Continuing, Mr. Miah said: “We ...

Press Release - 19/09/2013 - 07:10 - comment 0

Deporting migrant workers to impact Saudi retail sector

as an opportunity to enter stocks for the long-term,” said Farouk Miah, CFA, Head of Equity Research at NCB Capital. ... the high 19.2x 2014E P/E,” Miah said. “Despite the poor recent results at Shaker, we remain Overweight ... stores and margin vulnerability are key risks.” Commenting further, Miah said: “As seen in 3Q13, we ...

31/12/2013 - 07:43 - comment 0

Investors' eyes turn to Saudi retail

indicative of what is expected to happen across the sector," said Farouk Miah, a retail analyst at NCB ... investor sentiment. Despite the quarter-on-quarter slowdown, Mr Miah predicts consumer stocks will perform ... looks mixed at best, with demand for oil to slow down," Mr Miah said. "So where should ...

08/01/2012 - 20:01 - comment 0

NCB Capital maintains positive outlook for Saudi food and agriculture sector

market leaders Almarai and Savola, Farouk Miah, Head of Equity Research at NCB Capital, said: “We remain ... as high single digit organic growth, added Mr. Miah. We believe both firms are well positioned to take ... by around 17% in the past six months,” concluded Mr. Miah.  Ratings Summary   SAVOLA ...

Press Release - 18/06/2013 - 05:51 - comment 0

NCB Capital maintains strong long-term outlook for Saudi food and agriculture sector

to remain strong. Covering market leaders Almarai and Savola, Farouk Miah, Head of Equity Research ... coverage of the two companies, Mr. Miah said: “We remain overweight on Savola with a PT of SR47. Savola ... of their products,” stated Mr. Miah. “This pressure is most acute for Almarai on some of its core products ...

Press Release - 12/03/2013 - 05:42 - comment 0

NCB Capital maintains positive outlook for Saudi food and agriculture sector

Almarai and Savola, Farouk Miah, Head of Equity Research at NCB Capital, said, "We remain Overweight ... in existing/new businesses, as well as high single digit organic growth, added Miah. “We believe both firms ... the multiple has expanded by around 17 per cent in the past six months," concluded Miah ...

18/06/2013 - 13:05 - comment 0

NCB Capital expects continued strong earnings growth for Saudi retail sector

Jarir with a PT of SR164 and Al Othaim with a PT of SR92,” said Farouk Miah, Head of Equity Research ... expansion in the value-segment and opening stores abroad,” commented Mr. Miah.  Stating that Saudisation ... comments, Mr. Miah stated: “Given the growth outlook, the Saudi retail sector trades at an attractive 2013E ...

Press Release - 11/03/2013 - 08:33 - comment 0

NCB Capital: Saudi Banks amongst strongest in the region

supports growth. “Efficient asset utilization supports the strength of Saudi Banks,” said Farouk Miah ... with comparable peers. “Comparable cost-to-income ratio keeps margins competitive,” said Farouk Miah. “The salary ... of 0.7% as well as US banks’ average of 0.3% for 1H11,” added Mr. Miah. In addition, improved asset ...

Press Release - 27/11/2011 - 12:05 - comment 0

NCB Capital initiates coverage on extra and shaker with an overweight rating

enabling it to quickly take advantage of the market opportunities,” said Farouk Miah, Head of Equity ... in government projects,” highlighted Mr. Miah. NCB Capital initiated on these two stocks together given ... growth in the sector,” explained Mr. Miah. NCB Capital’s main concerns focus on margin pressure due ...

Press Release - 02/08/2012 - 11:47 - comment 0

Saudi Arabia remains on growth track

said Farouk Miah, Head of Equity Research at NCB Capital commenting on the launch of the 4th edition ... added Mr. Miah.  Saudi market profitability to exceed SR100bn for the first time Due ... economies, we believe, leads to a compelling investment case for the TASI,” commented Mr. Miah.  However, ...

Press Release - 17/05/2012 - 11:03 - comment 0