Al Rajhi Capital issued Q3 2020 earnings forecasts for Saudi-listed companies.
Saudi Arabian Oil Co. (Saudi Aramco) is forecast to post a decline of 38% year-on-year (YoY) in Q3 2020 net profit to SAR 49.3 billion. Saudi Basic Industries Corporation (SABIC) is expected to post a 38% profit rise YoY to SAR 925 million during the same period.
In petrochemicals, Sahara International Petrochemical Company (Sipchem) is expected to see a 86% YoY slump in the third-quarter net profit.
Elsewhere, Najran Cement Co. is seen making a net profit of SAR 39 million, a surge of 176% YoY in Q3. Saudi Cement Co. is forecast to report a 45% YoY profit increase in the three-month period.
In the telecom sector, Etihad Etisalat Co.’s (Mobily) profit is projected to surge 323% YoY to SAR 216 million.
Herfy Food Services Co.’s Q3 2020 net profit is estimated to drop 44% YoY.
In retail, Jarir Marketing Co.'s earnings are projected to fall by 26% YoY to SAR 225 million in Q3.
Elsewhere, all healthcare sector companies are seen to report profit growth in Q3 2020.
|
Al Rajhi Capital’s Q3 Forecasts (SAR mln) |
||
|
Company |
Q3 2020 Estimates (SAR mln) |
YoY Variation |
|
Petrochemicals Sector |
||
|
SABIC |
925 |
+38% |
|
Sipchem |
16 |
(86%) |
|
SAFCO |
376 |
(9%) |
|
Yansab |
146 |
(31%) |
|
Advanced |
194 |
(9%) |
|
Cement Sector |
||
|
Arabian Cement |
80 |
+32% |
|
Yamama Cement |
70 |
+28% |
|
Saudi Cement |
120 |
+45% |
|
Qassim Cement |
122 |
+35% |
|
Yanbu Cement |
67 |
+8% |
|
Southern Cement |
164 |
+82% |
|
Najran Cement |
39 |
+167% |
|
Telecommunications |
||
|
STC |
2617 |
(5%) |
|
Mobily |
216 |
+323% |
|
Zain Saudi |
37 |
(69%) |
|
Food & Agriculture |
||
|
Savola |
296 |
+33 % |
|
Herfy |
32 |
(44%) |
|
Retail |
||
|
Jarir |
225 |
(26%) |
|
Alhokair* |
(117) |
-- |
|
Al Othaim |
103 |
+37% |
|
eXtra |
17 |
(38%) |
|
Healthcare Sector |
||
|
Dallah |
31 |
+16% |
|
Mouwasat |
121 |
+30% |
|
Care |
28 |
+68% |
|
Al Hammadi |
31 |
+46% |
|
Other sectors |
||
|
Bupa Arabia |
252 |
(3%) |
|
Leejam |
15 |
(69%) |
|
Saudi Ceramic |
53 |
+54% |
|
Saudi Aramco |
49327 |
(38%) |
|
SISCO |
27 |
+303% |
|
Aldrees |
33 |
+99% |
|
SADAFCO* |
75 |
+15% |
*Q2 as the fiscal year ends March 31.
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