Ubhar Capital issues Q3 2022 profit forecasts for Saudi banks, firms

06/10/2022 Argaam Special


Ubhar Capital issued its expectations for Q3 2022 earnings of a number of Saudi banks and firms under its coverage.

It expects Saudi Basic Industries Corp (SABIC) to post a 9% rise in Q3 profit to SAR 6.08 billion, and Al Rajhi Bank to see a 17% profit rise to SAR 4.44 billion in the same period.

Ubhar Capital's Q3 2022 Profit Forecasts (SAR mln)

Company

Q3 2022 Forecasts

Change YoY

Banks

Saudi National Bank

4896.8

+28%

Al Rajhi Bank

4441.3

+17%

SABB

1115.2

+26%

Materials

Advanced

88.5

(59%)

Yansab

248.0

+38%

SIIG

267.9

+31%

SABIC

6082.2

+9%

PetroRabigh

1068.0

+383%

Sipchem

683.3

(34%)

Tasnee

247.7

(26%)

Maaden

3710.9

+192%

SABIC Agri-Nutrients

2586.7

+114%

Telecommunications

stc

3078.2

+5%

Mobily

378.0

+34%

Zain KSA

172.5

+186%

IT

solutions

277.5

+8%

MIS

25.2

+32%

Food and Staples Retailing

Jarir

278.9

+2%

SADAFCO*

60.7

+13%

Almarai

510.3

+25%

BinDawood Holding

84.2

+20%

Al Othaim

724.9

--

Alandalus

18.9

(2%)

Arabian Centres*

157.3

+71%

Leejam Sports

63.0

(17%)

Other

Ataa Educational*

22.4

(66%)

Saudi Ceramics

54.8

+5%

*Different fiscal year

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