Ubhar Capital issued Q2 2023 earnings forecasts for a number of Saudi banks and companies under coverage.
Saudi Basic Industries Corp. (SABIC) is expected to post a profit slump of 55% year-on-year (YoY) to SAR 3.5 billion. Al Rajhi Bank’s second-quarter earnings are forecast to fall 8% YoY to SAR 3.9 billion.
The following are the brokerage’s Q2 2023 earnings forecasts:
|
Q2 2023 Earnings Forecasts for Companies, Banks (SAR mln) |
||
|
Company |
Q2 2023 estimates |
YoY |
|
Banks |
||
|
SNB |
4813.5 |
+5% |
|
Al Rajhi Bank |
3911.6 |
(8%) |
|
SAB |
1684.5 |
+56% |
|
Materials |
||
|
SABIC |
3537.9 |
(55%) |
|
Sipchem |
388.8 |
(69%) |
|
Tasnee |
135.6 |
(54%) |
|
Advanced |
114.7 |
+5% |
|
Yansab |
61.8 |
(79%) |
|
SIIG |
200.4 |
(29%) |
|
Maaden |
1356.9 |
(66%) |
|
SABIC Agri-Nutrients |
882.3 |
(71%) |
|
Cement |
||
|
Yamama Cement |
93.3 |
+3% |
|
Saudi Cement |
97.4 |
(5%) |
|
City Cement |
35.5 |
+43% |
|
Qassim Cement |
60.4 |
+109% |
|
Telecommunications |
||
|
stc |
4163.0 |
+47% |
|
Mobily |
396.7 |
+10% |
|
Insurance |
||
|
Bupa Arabia |
272.5 |
+6% |
|
Tawuniya |
230.0 |
+23% |
|
Healthcare |
||
|
Sulaiman Al Habib |
454.2 |
+14% |
|
Mouwasat |
162.8 |
+15% |
|
Dallah Healthcare |
75.5 |
+9% |
|
Al Hammadi |
74.3 |
+14% |
|
IT |
||
|
solutions |
295.6 |
+8% |
|
MIS |
13.9 |
(18%) |
|
Food Retailing |
||
|
Jarir |
177.7 |
+0.3% |
|
SADAFCO* |
61.4 |
+13% |
|
Almarai |
536.6 |
+3% |
|
BinDawood Holding |
86.6 |
+105% |
|
Al Othaim |
58.9 |
+26% |
|
Cenomi Centres |
217.6 |
+73% |
|
Leejam |
55.1 |
+53% |
|
Other Sectors |
||
|
Ataa Educational* |
20.7 |
+51% |
*Different fiscal year
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