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Osool & Bakheet issues Q1 2019 forecasts; SABIC up 22%
Osool and Bakheet Investment Co. has issued Q1 2019 earnings estimates for several Tadawul-listed companies under its coverage.
Among petrochemical firms, Saudi Basic Industries Corp. (SABIC) is expected to report a 22 percent year-on-year (YoY) profit rise to SAR 4.3 billion.
In the banking sector, Al Rajhi Bank is forecast to report net profit of SAR 2.8 billion in Q1, an increase of 18 percent YoY.
Saudi Telecom Co.’s (STC) first-quarter net profit is likely to marginally decline by 1 percent YoY.
Meanwhile, Dallah Healthcare Co. and Mouwasat Medical Services Co. are seen to report profit declines of 26 percent and 8 percent YoY, respectively.
Herfy is expected to report a 9 percent YoY growth in net profit to SAR 51.9 million in Q1 2019.
Elsewhere, Budget Saudi’s net profit is forecast jump 11 percent YoY. Jarir is projected to report net profit of SAR 219 million in the same period.
|
Osool & Bakheet Profit Estimates (SAR mln) |
||
|
Company |
Q1 2019 estimates |
Y-o-Y variance |
|
Banks |
||
|
Riyad Bank |
1,365.5 |
+20% |
|
Aljaizra |
249.0 |
+2% |
|
Banque Saudi Fransi |
1,015.1 |
(9%) |
|
SABB |
1,223.1 |
+18% |
|
ANB |
899.0 |
+10% |
|
Samba |
1,421.1 |
+9% |
|
Al Rajhi |
2,800.7 |
+18% |
|
Albilad |
294.4 |
+15% |
|
Alinma |
667.6 |
+15% |
|
NCB |
2,673.5 |
(11%) |
|
Telecom |
||
|
STC |
2,562.1 |
(1%) |
|
Basic Materials |
||
|
Petrochem |
224.0 |
(33%) |
|
SABIC |
4,300.0 |
(22%) |
|
SAFCO |
242.0 |
+2% |
|
Yansab |
453.0 |
(28%) |
|
Yamama Cement |
30.0 |
+26% |
|
Saudi Cement |
125.0 |
(12%) |
|
Qassim Cement |
69.0 |
+21% |
|
Southern Cement |
89.0 |
(13%) |
|
|
Healthcare |
|
|
Mouwasat |
97.6 |
(8%) |
|
Dallah |
42.8 |
(26%) |
|
Care |
28.7 |
+12% |
|
Other Sectors |
||
|
Jarir |
219.0 |
-- |
|
SACO |
20.0 |
+37% |
|
Herfy |
51.9 |
+9% |
|
SADAFCO* |
61.1 |
+22% |
|
Bupa Arabia |
41.0 |
-- |
|
SGS |
88.0 |
(18%) |
|
Budget Saudi |
43.9 |
+11% |
*Q4 ended March 31, 2019. 
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