Bahri's Q4 profit expected to surge 322%, says Alistithmar Cap
The National Shipping Co. of Saudi Arabia (Bahri) is forecast to post a Q4-2015 profit growth of 322 percent year-on-year (YoY) to SAR 520.5 million, according to Alistithmar Capital.
Meanwhile, National Commercial Bank (NCB), Saudi Arabia’s largest lender by assets, is projected to make a net profit of SAR 2.01 billion in the fourth quarter, with a 10 percent rise YoY.
Al Rajhi Bank’s profit is likely to stand at SAR 1.54 billion, marking a slight increase of two percent YoY.
Petrochemical producers should see profit declines in the same period, Alistithmar said. Saudi Basic Industries Corp. (SABIC) is forecast to post a net profit of SAR 4.24 billion, with a 1 percent decrease YoY. Yanbu National Petrochemical Co. (Yansab) is likely to see the biggest slump in net earnings by 74 percent YoY to SAR 162.2 million.
As for telecom operators, Saudi Telecom Co.’s (STC) net profit is expected to stand at SAR 2.38 billion, a marginal decrease of two percent YoY.
In the cement sector, Jouf Cement and City Cement would outperform peers with a profit growth of 24 percent and 22 percent, respectively.
Saudi Arabian Mining Co. (Maaden) will likely see the biggest profit fall of 85 percent YoY to SAR 55.7 million in Q4.