Bahrain-based SICO Investment Bank has released its second quarter net profit forecast for a number of Tadawul-listed Saudi firms under its coverage. 

 

Saudi Basic Industries Corp.’s (SABIC) second quarter profit is expected to drop 8 percent to SAR 4.4 billion.

 

SICO forecast Saudi Telecom Co.’s (STC) net income to rise 32 percent to SAR 2.5 billion.

 

Al Rajhi Bank’s profit is expected to jump 9 percent to SAR 2.2 billion while National Commercial Bank’s (NCB) net profit is expected to leap 8 percent to SAR 2.6 billion.

 

Saudi Arabian Mining Co. (Maaden) is projected to report a 148 percent profit surge in Q2 to SAR 329 million.

 

Also, utility provider Saudi Electricity Co. (SEC) is seen making SAR 1.5 billion in profit in Q2, up 6 percent.

 

SICO Q2 Forecasts  (SAR mln)

Company

Q2-2017 Estimates

YoY Variation

Banks

Al Rajhi Bank

2,241

9%+

Alinma Bank

434

6%+

Arab National Bank

812

(1%)

Banque Saudi Fransi

1,081

3%+

NCB

2,627

8%+

Riyad Bank

1,113

(3%)

Samba

1,292

(2%)

SABB

1,028

(11%)

Petrochemicals Sector

SABIC

4,374

(8%)

Tasnee

129

24%+

Yansab

324

(53%)

Sipchem

37

43%+

Advanced Petrochemicals

136

(27%)

Alujain

4

(89%)

SAFCO

344

15%+

Kayan

198

117%+

SIIG

145

(33%)

Petrochem

115

(45%)

Telecommunications

Saudi Telecom

2454

32%+

Mobily

(173)

--

Cement Sector

Yanbu Cement

70

(56%)

Yamama Cement

80

(31%)

Arabian Cement

56

(60%)

Saudi Cement

108

(57%)

Southern Province Cement

83

(69%)

Qassim Cement

55

(52%)

Industrial Sector

Maaden

329

+148%

Al Yamamah Steel Industries

34

(49%)

Energy Sector

Saudi Electricity

 1,518

+6%

Transport Sector

Saudi Ground Services

170

(13%)

Healthcare Sector

Care

18

(70%)

Mouwasat

73

17%+

Dallah Healthcare

64

18%+

Al Hammadi

25

18%+

MEAHCO

81

6%+

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Quotes

STC
39.95
0.15 0.38%
ETIHAD ETISALAT
54.60
(0.90) (1.62%)
SAUDI ELECTRICITY
16.78
(0.08) (0.47%)
ALRAJHI
93.50
0.50 0.54%
ANB
19.50
(0.10) (0.51%)
RIBL
26.60
0.00 0.00%
SAB
31.50
(0.20) (0.63%)
SAMBA
38.50
1.70 4.62%
BSF
31.20
0.00 0.00%
ACC
26.05
(0.10) (0.38%)
QACCO
53.70
(0.80) (1.47%)
SAUDI CEMENT
40.85
(0.55) (1.33%)
SPCC
33.15
(0.35) (1.04%)
YC
31.30
(0.35) (1.11%)
YCC
23.36
(0.24) (1.02%)
ALUJAIN
36.95
(0.70) (1.86%)
TASNEE
10.40
(0.08) (0.76%)
SABIC
69.70
(0.20) (0.29%)
SABIC AGRI-NUTRIENTS
112.00
1.20 1.08%
SIIG
17.62
(0.10) (0.56%)
YANSAB
37.85
(0.90) (2.32%)
SIPCHEM
24.50
(0.50) (2.00%)
SAUDI KAYAN
7.11
(0.12) (1.66%)
ALINMA
27.65
0.20 0.73%
MAADEN
53.00
(0.50) (0.93%)
Petrochem
45.45
(0.60) (1.30%)
ADVANCED
34.60
(0.35) (1.00%)
DALLAH HEALTH
153.00
1.20 0.79%
MOUWASAT
92.40
0.90 0.98%
CARE
164.20
2.00 1.23%
SNB
33.10
(0.20) (0.60%)
SGS
50.50
1.25 2.54%
ALHAMMADI
39.55
0.15 0.38%
SAUDI GERMAN HEALTH
70.50
1.50 2.17%
ALYAMAMAH STEEL
31.80
0.70 2.25%


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