Saudi agricultural firms set to post 13% profit growth in Q4-15: research
12/01/2016 Argaam Exclusive
The combined net profit of eight Saudi agricultural and food producing companies is expected to rise 13 percent year-on-year (YOY) to SAR 1.34 billion in Q4-2015, according to analyst estimates.
All listed companies are forecast to report higher profit. Saudia Dairy and Foodstuff Co. (Sadafco) and National Agriculture Development Co. (Nadec) will likely see the biggest profit increases of 63 percent and 50 percent YOY, respectively.
Food manufacturer Halwani Bros followed with a 30 percent profit growth.
Analysts included Alistithmar Capital that provides coverage for seven firms, Saudi Fransi Capital (six firms), Bakheet Investment Group (five firms) and Riyad Capital that issued forecasts for only one firm.