Saudi Fransi Capital has issued earnings forecasts for Saudi-listed cement companies for the third quarter of 2016, which ends this month.
The sector has witnessed a drop in demand in Q3, driven by lower government spending and a sluggish construction sector, the investment firm said.
Dividend distributions are seen to fall due to market conditions. Meanwhile, City Cement, Yamama Cement, Qassim, and Eastern Province Cement Co. are expected to pay the highest dividends for the period.
Saudi Cement, Saudi Arabia's largest cement producer, is expected to post a 12 percent decline year-on-year in Q3 profit to SAR 182 million.
Southern Province Cement Co. is likely to see an 11 percent rise in Q3 to SAR 224 million.
|
Saudi Fransi Capital Q3 Forecasts (SAR mln) |
||
|
Company |
Q3-2016 estimates |
YoY change |
|
SPCC |
224 |
+11% |
|
Saudi Cement |
182 |
(12%) |
|
Arabian Cement |
97 |
+8% |
|
Yanbu Cement |
124 |
(14%) |
|
Yamama Cement |
127 |
+33% |
|
Qassim Cement |
107 |
(7%) |
|
Najran Cement |
24 |
(25%) |
|
EasternCement |
48 |
(28%) |
|
Northern Cement |
43 |
(18%) |
|
City Cement |
49 |
+4% |
|
Hail Cement |
27 |
+55% |
|
Al Jouf Cement |
23 |
+24% |
|
Tabuk Cement |
15 |
+63% |
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