KSB Capital issues Q4 forecasts; SABIC profit seen 45% higher

27/12/2016 Argaam

Saudi Basic Industries Corp. (SABIC) is expected to report a 45 percent year-on-year (YoY) jump in Q4 net profit to SAR 4.5 billion, according to KSB Capital.

 

The financial services company has issued its fourth-quarter net profit forecast for 14 Tadawul-listed firms under its coverage.

 

Yansab, which is 51 percent-owned by SABIC, will likely post the biggest profit increase in the sector—up 57 percent YoY to SAR 617 million.

 

In the banking sector, Al-Rajhi Bank’s profit is seen rising 12 percent YoY to SAR 2.2 billion in the same period.

 

Saudi Telecom Co.’s (STC) net income is expected to grow by 7 percent YoY to SAR 2.1 billion.

 

Saudi Cement Co. is forecast to be the sole gainer in the sector, with profit projected to edge up 0.6 percent YoY to SAR 181 million.

 

Yamama Cement would see the biggest profit fall of 42 percent YoY in the fourth quarter.

 

KSB Capital Q4-2016 profit estimates (SAR mln)

Company

Q4-2016 estimates

YoY Variation

Al Rajhi Bank

2,173.2

+12%

Alinma Bank

327.9

(15%)

Bank Albilad

230.2

+13%

Aljazira Bank

168.1

+6%

SABIC

4,452.7

+45%

Yansab

617.1

+57%

SAFCO

250.6

(34%)

Advanced

204.0

+40%

STC

2,090.2

+7%

Saudi Cement

180.8

+0.6%

Yanbu Cement

199.4

(5%)

SPCC

208.7

(30%)

Yamama Cement

104.7

(42%)

Arabian Cement

123.0

(21%)

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