SICO issues Q4 profit forecasts, SABIC seen up 17%

SICO Investment Bank has released its fourth-quarter net profit forecasts for 38 Saudi-listed firms under its coverage.

Saudi Basic Industries Corp. (SABIC) is expected to report a 17 percent year-on-year (YoY) jump in Q4 net profit to SAR 5.34 billion.

Yanbu National Petrochemical Co. (Yansab), which is 51 percent owned by SABIC, is likely to record 5 percent YoY profit growth in the same period.

Al Rajhi Bank’s profit is expected to rise 10 percent YoY to SAR. 2.25 billion.

The National Commercial Bank (NCB), however, is forecast to see its net earnings 5 percent lower YoY.

State-owned Saudi Telecom Co. (STC) is projected to post a 4 percent YoY increase in the fourth-quarter net profit to SAR 2.23 billion.

Arabian Cement and Yamama Cement are likely to outperform peers under coverage, with profit growth at 50 percent and 4 percent YoY, respectively.

Elsewhere, Al Hammadi Company for Development and Investment’s net profit is expected to surge 180 percent YoY.

Saudi German Hospital’s net earnings are seen to drop 27 percent YoY.

*Q1 2017 ending Dec. 2017.