Osool & Bakheet issues Q1 forecasts; SABIC seen down 3%

08/04/2018 Argaam

 

Osool and Bakheet Investment Co. has issued Q1 2018 earnings estimates for several Tadawul-listed companies under its coverage.

 

Among petrochemical firms, Saudi Basic Industries Corp. (SABIC) is expected to report a year-on-year (YoY) profit decline of 3 percent to SAR 5.09 billion.

 

In the banking sector, Al Rajhi Bank is forecast to report SAR 2.47 billion earnings in Q1, rising 11 percent YoY.

 

Alinma Bank is estimated to post a 42 percent year-on-year (YoY) hike in earnings to SAR 596.6 million. 

 

In the cement sector, Arabian Cement Co. is projected to generate SAR 105.5 million in net profit in Q1, rising 5 percent YoY. Remaining cement producers are expected to report profit declines during the same period.

 

Among the healthcare providers, National Medical Care Co. (Care) is projected to post the highest profit jump of 78 percent YoY to SAR 27.7 million.

 

Elsewhere, Herfy Food Services profit is seen to climb by 3 percent YoY in Q1.

 

Osool & Bakheet Profit Estimates (SAR mln)

Company

Q1 2018 estimates

Y-o-Y variance

Banks

Riyad Bank

1,016.3

(3%)

SAIB

353.3

2%

Alawwal

350.0

8%

Banque Saudi Fransi

1,000.0

(9%)

SABB

1,019.3

(2%)

ANB

785.8

2%

Samba

1,314.8

7%

Al Rajhi

2,465.4

11%

Albilad

243.0

6%

Alinma

596.6

42%

NCB

2,757.1

2%

Capital goods

Al Babtain

27.2

(30%)

Electrical Industries

11.2

5%

Consumer services

Herfy

54.4

3%

Al Tayyar

121.6

(11%)

Energy

Aldrees

12.3

(16%)

Bahri

107.8

(72%)

Retail

Al Othaim

83.1

38%

Food Industry

Almarai

299.0

(9%)

Healthcare

Saudi German

109.7

4%

Mouwasat

102.7

21%

Al Hammadi

30.0

7%

Care

27.7

78%

Dallah

85.5

1%

Insurance

Salama

17.7

37%

AXA

13.1

5%

BUPA Arabia

35.3

--

 

Basic Materials

 

Tasnee

270.0

161%

MEPCO

24.1

642%

SABIC

5,091.0

(3%)

SAFCO

370.0

(13%)

Alujain

40.8

41%

Advanced

122.8

(1%)

Sahara

128.5

34%

Yansab

677.8

11%

Sipchem

157.6

72%

Yanbu Cement

96.0

(23%)

Yamama Cement

20.0

(61%)

Arabian Cement

105.5

5%

Saudi Cement

100.5

(39%)

Qassim Cement

58.8

(27%)

Southern Cement

86.9

(17%)

City Cement

22.1

(42%)

Umm Al Qura Cement

7.9

(54%)

Northern Cement

14.4

(13%)

Al Jouf Cement

6.7

(59%)

Medicine

SPIMACO

53.4

(47%)

Real Estate Development

ARDCO

40.5

(7%)

Retail

SACO

30.3

(1%)

Jarir

234.2

6%

Transportation

SGS

140.3

(10%)

Budget Saudi

40.5

(5%)

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