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×Agrifood firms' Q2 net profit exceeds estimates
Saudi agricultural and food companies have reported aggregate net profit of SAR 1.2 billion in second quarter 2017, beating analysts’ estimates of SAR 1.17 billion by 2.6 percent, according to data compiled by Argaam.
Savola Group was on top, exceeding consensus forecasts by 41 percent. Almarai followed with its net profit 1 percent higher than average estimates.
However, Al-Jouf Agricultural Development Co. reported the biggest miss of 66 percent, after posting a net profit of SAR 7.7 million.
Halwani Bros came second, missing estimates of SAR 20.5 million by 41 percent, after reporting SAR 12 million net profit in Q2 2017.
Herfy Food Services Co. followed, as its net profit was lower than expected by 13 percent.
Company Estimates Comparisons
Company | 2017 - Q2 (a) | 2017 - Q2 (e) | Change |
ALMARAI | 674.11 | 670.27 | 0.6 % |
SAVOLA GROUP | 229.31 | 162.36 | 41.2 % |
CATRION | 131.02 | 138.96 | (5.7 %) |
HERFY FOODS | 43.40 | 49.92 | (13.1 %) |
HB | 12.14 | 20.50 | (40.8 %) |
ALJOUF | 7.71 | 22.55 | (65.8 %) |
SADAFCO | 75.16 | 74.88 | 0.4 % |
Total | 1172.85 | 1139.43 | 2.9 % |
Average Q2 estimates were issued by nine Saudi brokerage firms, including Albilad Capital, Al Rajhi Capital and Osool & Bakheet Investment Co.
Actual Profit versus Estimates
Company | 2017 - Q2 (a) | 2017 - Q2 (e) | Most Accurate Research Company |
ALMARAI | 674.11 | 673.00 | Hermes |
SAVOLA GROUP | 229.31 | 210.00 | Al Rajhi Capital |
CATRION | 131.02 | 131.00 | Albilad Capital |
HERFY FOODS | 43.40 | 48.00 | Albilad Capital |
HB | 12.14 | 16.00 | HSBC |
ALJOUF | 7.71 | 22.20 | OSOOL AND BAKHEET |
SADAFCO | 75.16 | 75.00 | Arbah Capital |
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MarketIndices
TASI | 12,352.33 | 6.68 | 0.05 % |
Company Indices
NADEC | 35.55 | 1.05 | 3.06% |
GACO | 18.26 | (0.22) | (1.19%) |
TADCO | 19.08 | 0.12 | 0.63% |
SFICO | 25.00 | (0.35) | (1.38%) |
SHARQIYAH DEV | 23.04 | (0.02) | (0.09%) |
ALJOUF | 50.90 | (1.20) | (2.30%) |
JAZADCO | 16.86 | 0.38 | 2.31% |
ALMARAI | 56.00 | (0.20) | (0.36%) |
WAFRAH | 48.25 | 0.60 | 1.26% |
SADAFCO | 355.60 | (1.00) | (0.28%) |
SAVOLA GROUP | 49.80 | 0.00 | 0.00% |
ANAAM HOLDING | 1.08 | (0.01) | (0.92%) |
HB | 51.00 | (0.20) | (0.39%) |
HERFY FOODS | 31.40 | (0.20) | (0.63%) |
CATRION | 127.80 | 0.80 | 0.63% |
DWF | 122.60 | (0.80) | (0.65%) |
TANMIAH | 136.40 | (4.00) | (2.84%) |
NAQI | 71.00 | 0.00 | 0.00% |
AMERICANA | 3.40 | (0.06) | (1.73%) |
FIRST MILLS | 83.30 | 0.20 | 0.24% |
MODERN MILLS | 56.50 | (0.20) | (0.35%) |
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