Tadawul-listed cement producers have reported a combined profit of SAR 1.701 billion for first quarter, falling one percent lower than average market estimates of SAR 1.724 billion, according to data compiled by Argaam.
Six companies in total missed forecasts of analysts. Some of the biggest losses were recorded by Northern Cement (-30 percent) and Yanbu Cement (-15 percent). Profits of Hail Cement, City Cement, Southern Province Cement and Tabuk Cement missed the mark by one to 14 percent.
On the other hand, Arabian Cement topped expectations by 13 percent, followed by Jouf Cement (12 percent), Najran Cement (eight percent) and Saudi Cement (six percent).
|
Profits vs. forecasts – Q1-2015 (SAR mln) |
|||
|
Change |
Consensus Estimates |
Actual profit |
Company |
|
(-1%) |
38.0 |
37.5 |
Hail Cement |
|
+8% |
85.0 |
92.0 |
Najran Cement |
|
(-3%) |
70.0 |
67.6 |
City Cement |
|
(-30%) |
72.0 |
50.6 |
Northern Cement |
|
+13% |
173.0 |
195.3 |
Arabian Cement |
|
-- |
175.0 |
175.4 |
Yamama Cement |
|
+6% |
285.0 |
303.0 |
Saudi Cement |
|
+2% |
160.0 |
162.7 |
Qassim Cement |
|
(-5%) |
281.0 |
266.0 |
Southern Cement |
|
(-15%) |
243.0 |
207.0 |
Yanbu Cement |
|
+5% |
81.0 |
85.0 |
Eastern Cement |
|
(-14%) |
38.0 |
32.6 |
Tabuk Cement |
|
+12% |
23.0 |
25.8 |
Al-Jouf Cement |
|
(-1%) |
1,724.0 |
1,700.5 |
Total |
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