Osool & Bakheet issues Q4 2018 forecasts; SABIC up 46%

07/01/2019 Argaam

 

Osool and Bakheet Investment Co. has issued Q4 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 increase of 46 percent to SAR 5.3 billion.

 

In the banking sector, Al Rajhi Bank is forecast to report SAR 2.4 billion earnings in Q4, up 1 percent YoY.

 

Herfy is expected to report a 3 percent YoY increase in net profit to SAR 528.4 million in Q4.

 

Meanwhile, all healthcare providers under coverage are seen to report a decline in net profit.

 

Saudi Telecom Co. (STC) is projected to report a 6 percent YoY increase in net profit to SAR 2.8 billion for the quarter.

 

Elsewhere, Budget Saudi is forecast to almost double its profit to SAR 42.6 million in Q4, while Jarir’s net profit is seen to rise by 3 percent YoY to SAR 258.5 million.

 

Osool & Bakheet Profit Estimates (SAR mln)

Company

Q4 2018 estimates

Y-o-Y variance

     Banks

Riyad Bank

950.0

(2%)

SAIB

367.0

+4%

Alawwal

280.0

(14%)

Banque Saudi Fransi

850.0

--

SABB

909.0

+29%

ANB

796.1

+25%

Samba

1,231.2

+2%

Al Rajhi

2,435.9

(1%)

Albilad

260.0

+15%

Alinma

654.3

+17%

NCB

2,449.6

(4%)

Aljazira

239.7

+24%

Consumer services

Al Tayyar

51.5

+8%

Herfy

528.4

+3%

    Telecom

STC

2,801.6

+6%

     Healthcare

Mouwasat

97.6

(1%)

Care

27.7

(10%)

Dallah

42.8

(32%)

 

Basic Materials

 

Advanced

184.0

+77%

Petrochem

247.0

(37%)

SABIC

5,342.6

+46%

SAFCO

600.0

--

Yansab

351.0

(55%)

Kayan

320.0

--

Saudi Cement

90.5

(16%)

     Other Sectors

Jarir

258.5

+3%

ARDCO

43.9

(41%)

Budget Saudi

42.6

+98%

Catering

115.9

+17%

Al Babtain

14.1

(62%)

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