Riyad Cap issues Q2 2020 earnings forecast for 26 listed firms
07/07/2020 Argaam Special
ShareCopy to clipboard
Riyad Capital published its Q2 2020 earnings forecast for 26 Tadawul-listed firms under its coverage.
Saudi Basic Industries Corporation (SABIC) is expected to post an 80% profit drop year-on-year (YoY) to SAR 431 million in Q2 2020.
National Industrialization Co.’s (Tasnee) earnings are seen down 93% to SAR 21 million, while Saudi Arabian Fertilizers Co.’s (SAFCO) is estimated to make SAR 282 million in Q2, down 26% YoY.
In the banking sector, Al Rajhi Bank is seen to post a 20% profit decline in Q2 to SAR 2.056 billion while National Commercial Bank (NCB) is expected to post a 17% drop in earnings to SAR 2.221 million.
Saudi Cement Co. is expected to report a decrease in the Q2 net profit to SAR 70 million while Southern Province Cement’s earnings are forecasted to rise 19% to SAR 108 million in the same period.
In the telecom sector, Saudi Telecom Co.'s (STC) profit is expected to drop 4% YoY to SAR 2.745 billion.