NCBC issues Q4 2019 earnings forecast for 44 listed firms
08/01/2020 Argaam Special
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NCB Capital (NCBC) released Q4 2019 earnings forecast for 44 Saudi-listed firms under its coverage.
Saudi Basic Industries Corporation (SABIC) is expected to post a 38% profit drop year-on-year (YoY) to SAR 1.99 billion in Q4 2019.
National Industrialization Co.’s (Tasnee) earnings are seen down 75% to SAR 46 million, while Saudi Industrial Investment Group (SIIG) is estimated to make SAR 120 million in Q4, more than four-folds compared to the same period last year.
In the banking sector, Al Rajhi Bank is seen to post a 3% profit rise in Q4 to SAR 2.85 billion while Samba Financial Group is expected to post a 29% decline in earnings to SAR 1.004 billion.
Yamama Cement Co. is expected to report an eight-fold increase in the fourth quarter net profit to SAR 66 million, while Saudi Cement’s earnings are forecast to drop 22% to SAR 97 million in Q4.
In the telecom sector, Saudi Telecom Co.'s (STC) profit is expected to drop 13% YoY to SAR 2.76 billion.
Elsewhere, Almarai Co. is likely to post 9% profit hike YoY in the same quarter.
Savola Group will see a net income of SAR 121 million in Q4.
Saudi Electricity Co. (SEC) is expected to realize a net loss of SAR 2.97 billion for the period.