NCB Capital on Monday issued its Q3 estimates for Saudi-listed companies under its coverage.
Giant petrochemical producer Saudi Basic Industries Corp. (SABIC) is projected to report a third-quarter profit of SAR 3.98 billion, a fall of 24 percent year-on-year (YoY).
Al Rajhi Bank’s profit is likely to increase 12 percent YoY to SAR 2.24 billion in the same period, while Saudi Telecom’s (STC) net income is forecast to rise by 7 percent YoY to SAR 2.31 billion.
In the agriculture and retail sector, Savola Group is expected to see its net profit more than treble to SAR 582 million in Q3.
Almarai’s profit, however, is seen declining 6 percent YoY to SAR 618 million.
In the healthcare sector, Mouwasat Medical Services Co. will likely outperform peers with a 42 percent YoY jump in its net income to SAR 71.3 million.
Elsewhere, estimates were negative for all cement producers under its coverage in the same period.
|
NCB Capital Profit Estimates (SAR mln) |
||
|
Company |
Q3 forecast |
YoY Variation |
|
Petrochemicals |
||
|
SABIC |
3,980 |
(24%) |
|
SIIG |
179 |
+10% |
|
Yansab |
639 |
+5% |
|
Advanced Petrochemicals |
213 |
+13% |
|
Tasnee |
139 |
+14% |
|
Sipchem |
75 |
-- |
|
Sahara Petrochemicals |
118 |
+12% |
|
SAFCO |
209 |
+16% |
|
Saudi Kayan |
164 |
+5% |
|
Petrochem |
174 |
(9%) |
|
Telecom |
||
|
STC |
2,307 |
+7% |
|
Mobily |
(184) |
-- |
|
Zain |
11.3 |
-- |
|
Food & Agriculture |
||
|
Savola |
582 |
+236% |
|
Almarai |
618 |
(6%) |
|
Healthcare |
||
|
Saudi German |
66.8 |
(27%) |
|
Mouwasat |
71.3 |
+42% |
|
Al Hammadi |
28.1 |
+31% |
|
Tourism |
||
|
SGS |
181 |
(6%) |
|
Catering |
139 |
(7%) |
|
Al Tayyar |
182 |
(3%) |
|
Retail |
||
|
eXtra |
24 |
+229% |
|
Al Hokair* |
80 |
+37% |
|
Shaker |
(22) |
-- |
|
Jarir |
251 |
+14% |
|
Al Othaim |
52 |
+42% |
|
Cement |
||
|
Arabian Cement |
40 |
(59%) |
|
Yamama Cement |
28 |
(50%) |
|
Eastern Province Cement |
27 |
(37%) |
|
Qassim Cement |
52 |
(26%) |
|
Southern Province Cement |
86 |
(50%) |
|
Saudi Cement |
83 |
(59%) |
|
Yanbu Cement |
66 |
(29%) |
|
Real Estate |
||
|
Dar Al-Arkan |
14 |
(88%) |
|
Taiba |
69 |
(8%) |
|
Al Akaria |
30 |
+51% |
|
Banks |
||
|
Al Rajhi Bank |
2,241 |
+12% |
|
Alinma Bank |
479 |
+54% |
|
Banque Saudi Fransi |
974 |
(4%) |
|
Riyad Bank |
877 |
+20% |
|
SABB |
1,071 |
+8% |
|
Saudi Investment Bank |
331 |
+51% |
|
Samba |
1,299 |
(3%) |
|
Alawwal Bank |
295 |
+12% |
|
ANB |
745 |
+3% |
|
Bank Albilad |
262 |
+15% |
|
Bank Aljazira |
200 |
+25% |
|
Other sectors |
||
|
Saudi Electricity |
4,784 |
+9% |
|
Saudi Steel Pipe |
9 |
+57% |
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