Tabreed - 1Q24 Core Attributable Profit Down 5% YoY (-31% QoQ) To AED112mn
We maintain our Hold recommendation on Tabreed with a Fair Value of AED3.97/sh. The stock trades at FY24 P/E of 16.5x and offers 4.7% dividend yield
4Q23 Quarterly Result Previews
Our 4Q23e result would take FY23e profit to USD967mn, up 21% YoY and towards the high end of the management’s guided range of USD850mnUSD1bn.
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