Aljazira Capital has published its forecasts for Q3 2019 profits of key listed banks and companies under its coverage, including SABIC, Al Rajhi Bank, and Saudi Telecom Company (STC).
The brokerage firm said in a research note that it forecasts SABIC’s Q3 2019 profit to decline 61 percent to SAR 2.36 billion compared to the same period in 2018.
It also expects Al Rajhi Bank’s Q3 2019 profit to increase marginally to SAR 2.59 billion.
The table below highlights the brokerage firm forecasts for Q3 2019:
|
Aljazira Capital’s Q3 Net Profit Forecasts (SAR mln) |
||
|
Company |
Q3 2019E |
Variation |
|
Banks |
||
|
Al Rajhi |
2,591.2 |
+ 1% |
|
Alinma |
677.2 |
+ 4% |
|
Albilad |
330.5 |
+ 15% |
|
Telecom |
||
|
STC |
2,859.1 |
+8% |
|
Mobily |
50.8 |
-- |
|
Zain |
157.0 |
+227% |
|
Basic Materials |
||
|
SABIC |
2,357.6 |
(61%) |
|
Tasnee |
56.2 |
(78%) |
|
Yansab |
328.6 |
(55%) |
|
SAFCO |
443.1 |
(15%) |
|
SIPCHEM* |
199.9 |
+11% |
|
Kayan |
3.7 |
-- |
|
Petrochem |
153.4 |
(50%) |
|
Ma’aden |
(187.1) |
-- |
|
Yamama Cement |
59.2 |
-- |
|
Saudi Cement |
105.4 |
+40% |
|
Southern Cement |
96.2 |
-- |
|
Qassim Cement |
74.5 |
-- |
|
Arabian Cement |
43.1 |
+199% |
|
Yanbu Cement |
53.5 |
+303% |
|
City Cement |
38.6 |
-- |
|
Eastern Cement |
27.7 |
+212% |
|
Healthcare |
||
|
Al Hammadi |
21.9 |
+3% |
|
Mouwasat |
84.8 |
+5% |
|
Care |
15.8 |
+38% |
|
Dallah |
23.7 |
(27%) |
|
Saudi German |
8.8 |
(56%) |
|
Retail |
||
|
Jarir |
306.3 |
+6% |
|
Alhokair** |
(3.3) |
-- |
|
SACO |
26.2 |
+7% |
|
Consumer services |
||
|
Seera |
61.3 |
-- |
|
Other |
||
|
Budget Saudi |
45.2 |
+5% |
|
Catering |
130.9 |
(8%) |
|
SGS |
98.8 |
+7% |
|
Al Othaim |
52.2 |
(4%) |
*The company has acquired Sahara in May 2019
**Financial results of Q2 as FY ends ending March 31.
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