STC may post 20% profit increase in Q2: Aljazira Capital

Saudi Telecom Company (STC), the kingdom’s largest mobile operator, is likely to report a 20 percent profit rise in upcoming second quarter results to SAR 3.37 billion, Aljazira Capital said in its latest report.

The firm issued forecasts for a number of Tadawul-listed banks and companies, including Sabic, Sahara Petrochemicals, and Al-Rajhi Bank.

Sabic, the kingdom’s largest petrochemicals producer, is likely to report SAR 4.91 billion in earnings for second quarter, a 24 percent drop YoY, Aljazira Capital added.

Sahara is projected to record a 78 percent drop, compared to the same period last year; while Al Rajhi, the kingdom’s second largest bank by assets, is seen to post an 11 percent decline.

Aljazira Capital Estimates – Q2-2015 (SAR mln)
YoY change	Q2-2015 estimations	Company
Petrochemicals
(-24%)	4,904.8		Sabic
(-73%)	167.3		Yansab
(-12%)	559.5		SAFCO
(-49%)	125.8		Sipchem
(-18%)	151.2		Advanced
(-68%)	129.1		Tasnee
--	( 93.9 )		Kayan
(-78%)	41.7		Sahara
Banks
(-11%)	1,743.1	Al Rajhi
+14%	349.1	Alinma
+16%	237.9	Al Bilad
Cement
(-11%)	185.2	Yamama Cement
(-4%)	276.9	Saudi Cement
(-11%)	263.3	Southern Cemet
+3%	165.3	Qassim Cement
(-7%)	185.3	Arabian Cement
(-2%)	236.2	Yanbu Cement
+7%	90.6	Najran Cement
(-11%)	40.9	Hail Cement
+14%	70.8	City Cement
(-4%)	78.9	Eastern Cement
+2%	63.1	Northern Cement
Agriculture & Food Products
+12%	486.8	Almarai
+18%	27.3	Halwani
+4%	28.9	AL Jouf Agriculture
Retail
+18%	158.8	Jarir
+81%	38.8	Al Khaleej Training
+11%	57.2	Al Othaim
+2%	35.1	Dallah
+5%	62.7	Al Mouwasat
(-2%)	30.6	Care
Other Sectors
+20%	3,366.2	STC
+11%	47.1	Budget
+3%	169.6	Catering
(-90%)	35.6	Al Hassan Shaker

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