Profit of Saudi growth companies set to jump 38% in Q4-15
13/01/2016 Argaam Exclusive
The combined net profit of nine Tadawul-listed growth companies is projected to jump 38 percent year-on-year (YoY) to SAR 1.58 billion in Q4-2015, according to average analysts’ estimates compiled by Argaam.
The National Shipping Company of Saudi Arabia (Bahri) is expected to report the biggest profit surge of 327 percent YoY to SAR 526.6 million in Q4.
Saudi Chemical’s Q4 net profit is forecast to rise slightly by one percent YoY.
Meanwhile, Saudi Arabian Mining Co. (Maaden) is expected to see its Q4-2015 profit drop 77 percent to SAR 87.7 million, compared to SAR 376 million in the same period in 2014.
Analyst estimates included figures from Bakheet Investment Group— which provided coverage for all firms— AlJazira Capital, Saudi Fransi Capital, and NCB Capital, which forecasted figures for only one firm.