Saudi growth companies miss profit estimates by 24% in Q4
25/01/2016 Argaam Exclusive
Saudi Arabia’s growth companies have reported aggregate earnings of SAR 1.2 billion in Q4 2015, missing forecasts of SAR 1.5 billion by 24 percent, data compiled by Argaam showed.
The National Shipping Company of Saudi Arabia (Bahri), however, exceeded the average estimate by 8 percent with a Q4 net profit of SAR 566.9 million.
Meanwhile, Al Hassan Ghazi Ibrahim Shaker Co. and Saudi Arabian Mining Co. (Maaden) fell short of average forecasts, recording losses of SAR 17.8 million and SAR 5.7 million, respectively for the Q415.
Other growth companies missed Q4’s average estimates by 14 percent to 55 percent, with the exception of United International Transportation Co. (Budget Saudi), which matched consensus with a net profit of SAR 49.62 million in Q4-2015.