Watch: How are flat Saudi company sales a good sign for investors?

January 30, 2018 10:47 am


ADS Securities Head of Asset and Wealth Management Ryan Lemand discusses the winding down of the Saudi Arabian corruption probe. He speaks on “Bloomberg Markets: Middle East.”

“We remain very positive on Saudi since more than 2 years ago,” said Lemand.

“It’s a country undergoing reforms, transforming, becoming very efficient.”

Read: Curtain on $100bn Saudi probe falling: Have the tables turned on the kingdom?

Lemand said that the Saudi anti-corruption campaign was tackled similar to a situation when an international bank is approached by regulators for some wrongdoing and settled the cases for money.

“Looks like things are doing very well for everyone, and Saudi Prince Alwaleed is out,” said Lemand.

“The great news in Saudi for investors is that growth is flat but earnings are up 10%, so this means that while company sales are stable, they have better efficiency and that’s what investors like.”

Read: Does the Saudi Kuwait crisis have a sporting chance of being averted?

 


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Hadi Khatib
By Hadi Khatib
Hadi Khatib is a business editor with more than 15 years' experience delivering news and copy of relevance to a wide range of audiences. If newsworthy and actionable, you will find this editor interested in hearing about your sector developments and writing about it.