KASB Capital has issued earnings forecasts for Saudi companies and banks for the third quarter of 2016, which comes to an end this month.
Al Rajhi Bank, Saudi Arabia's second-largest lender by assets, is projected to post a 13 percent rise year-on-year in Q3 profit to SAR 1.93 billion.
Taking a hit from low oil prices, petrochemical giant Saudi Basic Industries Corporation (SABIC) is expected to see a 19 percent YoY drop in earnings at SAR 4.55 billion in Q3.
Saudi Arabian Fertilizer Company (SAFCO) is forecast to post a 53 percent slump in Q3 to SAR 264.7 million.
Saudi Telecom Company (STC), the country’s largest telco, is expected to post SAR 2.22 billion earnings for the period, falling by 4 percent YoY.
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KASB Capital Q3 Forecasts (SAR mln) |
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|
Company |
Q3-2016 estimates |
YoY change |
|
Al Rajhi Bank |
1,935.8 |
+13% |
|
Alinma |
425.8 |
+14% |
|
Albilad |
188.6 |
(7%) |
|
Aljazira |
167.4 |
+1% |
|
Sabic |
4,547.0 |
(19%) |
|
Yansab |
619.6 |
+105% |
|
Safco |
264.7 |
(53%) |
|
Advanced |
190.6 |
(19%) |
|
STC |
2,224.4 |
(4%) |
|
Saudi Cement |
189.8 |
(9%) |
|
Northern Cement |
37.3 |
(29%) |
|
Yanbu Cement |
118.1 |
(18%) |
|
Eastern Cement |
49.1 |
(26%) |
|
City Cement |
50.2 |
+6% |
|
Southern Cement |
216.2 |
+7% |
|
Najran Cement |
22.0 |
(32%) |
|
Yamama Cement |
84.1 |
(12%) |
|
Aljouf Cement |
16.9 |
(9%) |
|
Arabian Cement |
108.8 |
+22% |
|
Hail Cement |
18.6 |
+6% |
|
Tabuk Cement |
13.6 |
+48% |
|
Qassim Cement |
103.0 |
(11%) |
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