NCB Capital has issued Q2 2019 earnings forecasts for a number of Saudi-listed companies.
Saudi Basic Industries Corporation (SABIC) is expected to post a 48 percent year-on-year (YoY) profit drop to SAR 3.50 billion in Q2 2019.
Al Rajhi Bank is forecast to report a 14 percent earnings rise (YoY) to SAR 2.93 billion in Q2.
For petrochemicals, National Petrochemical Co. (Petrochem) is expected to make net profit of SAR 180 million in Q2 2019, down 38 percent YoY.
Saudi Arabia Fertilizers Co. (SAFCO) is estimated to see profit up 2 percent YoY to SAR 417 million in Q2.
For Banks, SAMBA financial Group’s second-quarter net profit is projected to rise by 4 percent YoY to SAR 1.5 billion.
Alinma Bank is forecast to report a 13 percent profit rise YoY to SAR 702 million in Q2 2019.
Among healthcare services providers, Mouwasat Medical Services Co. is estimated to see earnings up by 5 percent YoY to SAR 92 million in the second quarter of 2019.
As for real estate developers, Dar Al Arkan Real Estate Development Co. is expected to report 71 percent earnings decline in Q2 2019 to SAR 32 million.
Elsewhere, Saudi Cement is estimated to post SAR 101 million in profit, 74 percent up YoY in Q2.
Saudi Telecom Co.’s (STC) Q2 net profit is seen rising by 14 percent YoY to SAR 2.79 billion.
Almarai Co.’s net earnings are expected to drop 6 percent YoY to SAR 623 million in the second quarter.
United Electronics Co. (eXtra) is forecast to post a 40 percent profit jump to SAR 64 million in Q2 2019.
Jarir Marketing Co. is also projected to generate net profit of SAR 178 million, up by 10 percent YoY in Q2.
|
NCBC Q2 2019 profit estimates (SAR mln) |
||
|
Company |
Q2 2019 estimates |
YoY Variation |
|
Petrochemicals |
||
|
SABIC |
3,504 |
(48%) |
|
SIIG |
170 |
(47%) |
|
YANSAB |
402 |
(51%) |
|
Advanced |
181 |
(29%) |
|
Tasnee |
148 |
(63%) |
|
Sipchem |
225 |
-- |
|
SAFCO |
417 |
+2% |
|
Saudi Kayan |
(213) |
-- |
|
Petrochem |
180 |
(38%) |
|
Telecom |
||
|
STC |
2,793 |
+14% |
|
Mobily |
74 |
-- |
|
Zain Saudi |
137 |
-- |
|
Food |
||
|
Savola |
110 |
(22%) |
|
Almarai |
623 |
(6%) |
|
Healthcare |
||
|
Saudi German |
16 |
(54%) |
|
Mouwasat |
92 |
(12%) |
|
Al Hammadi |
23 |
+15% |
|
Tourism |
||
|
SGS |
112 |
(1%) |
|
Catering |
122 |
+2% |
|
Seera |
72 |
(33%) |
|
Retail |
||
|
Leejam |
47 |
+19% |
|
eXtra |
64 |
+40% |
|
Alhokair* |
223 |
(11%) |
|
Shaker |
(34) |
-- |
|
Jarir |
178 |
+10% |
|
Al Othaim |
67 |
(10%) |
|
Cement |
||
|
Arabian Cement |
37 |
-- |
|
Yamama Cement |
54 |
-- |
|
EPCC |
33 |
+74% |
|
Qassim Cement |
47 |
+154% |
|
SPCC |
105 |
+190% |
|
Saudi Cement |
101 |
+74% |
|
Yanbu Cement |
52 |
+1,199% |
|
Real estate |
||
|
Dar Al-Arkan |
32 |
(71%) |
|
Taiba |
33 |
(29%) |
|
Al-Akaria |
(0.7) |
-- |
|
Banking |
||
|
Al Rajhi |
2,938 |
+14% |
|
Alinma |
702 |
+13% |
|
BSF |
1,064 |
+16% |
|
SAMBA |
1,452 |
+4% |
|
Albilad |
338 |
+23% |
|
Aljazira |
273 |
+8% |
|
Other sectors |
||
|
SEC |
2,013 |
+9% |
|
Steel Pipe |
8.2 |
-- |
* Q1 ended June 30, 2019 (fiscal year ends March 31)
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