Bahrain-based investment bank SICO has forecast that as many as 20 of the 37 Saudi-listed companies under its coverage will post profit declines in the second quarter.
Saudi Basic Industries Corp. (SABIC) is expected to see a year-on-year (YoY) net profit drop of 42 percent toSAR 3.61 billion in second quarter.
Saudi Telecom Co.’s (STC) Q2 net profit is estimated at SAR 2.152 billion, 16 percent lower compared to the same period last year.
As many as 13 companies are expected to report profit gains. National Commercial Bank (NCB) is expected to report an 8 percent YoY rise in net profit to SAR 2.56 billion, while Al Rajhi Bank is expect to see its profit rise 7 percent over the same period to SAR 2.09 billion.
Saudi Kayan is likely to post quarterly losses of SAR 209 million.
|
SICO Profit Estimates (SAR mln) |
|||
|
Entity |
Q2-2016 estimates |
Y-o-Y change |
|
|
Banking Sector |
|||
|
Al Rajhi |
2,087 |
+7% |
|
|
Alinma |
380 |
+4% |
|
|
ANB |
737 |
(12%) |
|
|
BSF |
1,041 |
+3% |
|
|
NCB |
2,558 |
+8% |
|
|
Riyad |
1,144 |
+1% |
|
|
Samba |
1,316 |
(1%) |
|
|
SABB |
1,118 |
(2%) |
|
|
Petrochemical Sector |
|||
|
SABIC |
3,609 |
(42%) |
|
|
Tasnee |
26 |
-- |
|
|
Yansab |
441 |
+94% |
|
|
Sipchem |
52 |
(53%) |
|
|
Advanced |
178 |
(27%) |
|
|
Alujain |
25 |
(51%) |
|
|
Safco |
329 |
(45%) |
|
|
Saudi Kayan |
(209) |
-- |
|
|
SIIG |
133 |
(61%) |
|
|
Petrochem |
207 |
(32%) |
|
|
Telecommunications sector |
|||
|
STC |
2,152 |
(16%) |
|
|
Mobily |
85 |
-- |
|
|
Cement Sector |
|||
|
Yanbu Cement |
170 |
(31%) |
|
|
Yamama Cement |
124 |
(35%) |
|
|
Arabian Cement |
148 |
(8%) |
|
|
Saudi Cement |
239 |
(6%) |
|
|
SPCC |
243 |
(10%) |
|
|
Qassim Cement |
115 |
(32%) |
|
|
Industrial Investment Sector |
|||
|
Maaden |
146 |
(58%) |
|
|
Transportation Sector |
|||
|
SGS |
177 |
+2% |
|
|
Retail Sector |
|||
|
Almarai |
530.6 |
-- |
|
|
Al Othaim |
60.3 |
+8% |
|
|
Jarir |
157 |
+1% |
|
|
Herfy |
50 |
+8% |
|
|
Healthcare Sector |
|||
|
Care |
37 |
(12%) |
|
|
Al Mouwasat |
66 |
+17% |
|
|
Dallah |
41 |
+15% |
|
|
Al Hammadi |
31 |
(15%) |
|
|
Meahco |
96 |
+4% |
|
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