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
42.45
0.15 0.35%
ETIHAD ETISALAT
51.80
0.10 0.19%
SAUDI ELECTRICITY
16.24
(0.04) (0.25%)
ALRAJHI
88.90
0.30 0.34%
ANB
19.18
0.06 0.31%
RIBL
25.55
0.00 0.00%
SAB
33.55
(0.15) (0.45%)
SAMBA
38.50
1.70 4.62%
BSF
31.10
0.10 0.32%
ACC
25.50
1.10 4.51%
QACCO
52.40
1.20 2.34%
SAUDI CEMENT
40.30
0.60 1.51%
SPCC
32.60
0.00 0.00%
YC
30.00
(0.25) (0.83%)
YCC
22.74
0.34 1.52%
ALUJAIN
39.60
0.15 0.38%
TASNEE
10.72
0.04 0.37%
SABIC
72.50
0.00 0.00%
SABIC AGRI-NUTRIENTS
116.20
2.20 1.93%
SIIG
17.60
(0.10) (0.57%)
YANSAB
39.65
(0.15) (0.38%)
SIPCHEM
26.35
0.20 0.76%
SAUDI KAYAN
7.74
0.00 0.00%
ALINMA
28.15
(0.10) (0.35%)
MAADEN
54.00
(0.90) (1.64%)
Petrochem
45.45
(0.60) (1.30%)
ADVANCED
36.00
0.05 0.14%
DALLAH HEALTH
156.00
(0.80) (0.51%)
MOUWASAT
94.30
(1.50) (1.57%)
CARE
189.00
2.00 1.07%
SNB
32.65
(0.20) (0.61%)
SGS
52.20
(0.50) (0.95%)
ALHAMMADI
39.85
(0.35) (0.87%)
SAUDI GERMAN HEALTH
71.70
1.60 2.28%
ALYAMAMAH STEEL
33.00
(0.30) (0.90%)


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