NCB Capital issues Q2 forecasts; SABIC to see 41% profit drop
NCB Capital has projected lower second quarter net profit for many of the Tadawul-listed companies under its coverage.
Petrochemicals giant Saudi Basic Industries Corp.’s (SABIC) is forecast to see a year-on-year (y-o-y) profit drop of 41 percent to SAR 3.67 billion.
However, Sahara Petrochemical Co. is expected to see the biggest profit jump y-o-y of 486 percent to SAR 67 million. Yansab’s net profit is forecast to double to SAR 455 million.
Among banks, Al Rajhi Bank is likely to report a net profit of SAR 2.12 billion; 9 percent higher y-o-y. Aljazira Bank is expected to see 77 percent profit decline to SAR 168 million.
Saudi Electricity Co. is seen to post a 19 percent profit increase to SAR 2.35 billion.
NCBC Profit Estimates (SAR mln) |
||
Company |
Q2-2016 estimates |
Y-o-Y change |
Banking Sector |
||
Al Rajhi Bank |
2,123 |
+9% |
Banque Saudi Fransi |
1,095 |
+8% |
Riyad Bank |
1,094 |
(3%) |
SABB |
1,134 |
(0.3%) |
Saudi Investment Bank |
297 |
(23%) |
Samba Financial |
1,308 |
(2%) |
Saudi Hollandi Bank |
506 |
(6%) |
Arab National Bank |
798 |
(5%) |
Bank Albilad |
208 |
+1% |
Aljazira |
168 |
(77%) |
Petrochemical Sector |
||
SABIC |
3,666 |
(41%) |
SIIG |
146 |
(57%) |
Yansab |
455 |
+100% |
Tasnee |
32 |
-- |
Sipchem |
29 |
(74%) |
Sahara |
67 |
+486% |
Safco |
293 |
(51%) |
Kayan |
(178) |
-- |
Petrochem |
203 |
(34%) |
Cement Sector |
||
Yamama Cement |
150 |
(22%) |
Eastern Cement |
66 |
(29%) |
Qassim Cement |
114 |
(32%) |
Southern Cement |
253 |
(6%) |
Saudi Cement |
252 |
(1%) |
Yanbu Cement |
165 |
(33%) |
Telecommunication Sector |
||
STC |
2,507 |
(2%) |
Mobily |
38 |
-- |
Zain |
(232) |
-- |
Other Sectors |
||
SEC |
2,354 |
+19% |
Steel Pipes |
17 |
(23%) |
Savola |
262 |
(40%) |
Almarai |
543 |
+2% |
eXtra |
(5) |
-- |
Al Hokair |
190 |
(10%) |
Shaker |
55 |
(33%) |
Jarir |
160 |
+3% |
Al Othaim |
64 |
+15% |
Dar Al Arkan |
57 |
(19%) |
Taiba |
54 |
(5%) |
Al-Akaria |
26 |
(29%) |
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