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.
Saudi Arabia’s fast food restaurant chain Herfy Food Services Co. will likely report a profit rise of 18 percent, followed by Almarai (15 percent), Al-Jouf Agriculture Development Co. (13 percent) and The Savola Group (eight percent).
Saudi Airlines Catering Co. is projected to post the lowest profit growth of two percent YOY.
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.
|
Q4/15 Estimates vs. Q4/14 Actual (SAR mln) |
||||
|
Difference (%) |
Q4-15 E |
Q4-14 A |
Number of analysts |
Company |
|
+8% |
470.8 |
434.4 |
5 |
Savola |
|
+63% |
49.1 |
30.1 |
2 |
Sadafco |
|
+15% |
492.2 |
428.0 |
7 |
Almarai |
|
+2% |
175.5 |
172.8 |
5 |
Catering |
|
+18% |
57.7 |
48.7 |
5 |
Herfy |
|
+50% |
30.0 |
20.0 |
3 |
Nadec |
|
+13% |
41.8 |
36.9 |
3 |
AlJouf Agriculture |
|
+30% |
30.6 |
23.6 |
2 |
Halwani Bros. |
|
+13% |
1347.7 |
1194.5 |
7 |
Total |
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