SICO issues Q3 profit forecast; SABIC seen down 21%

03/10/2016 Argaam

SICO Investment Bank has released its third quarter net profit forecast for 37 listed Saudi firms under its coverage.

Saudi Basic Industries Corp.s third quarter profit is expected to decline 21 percent to SAR 4.45 billion.

Seiko forecast Saudi Telecom Co.s (STC) net income to drop 4 percent to SAR 2.22 billion.

Al Rajhi Bank’s profit is expected to surge 21 percent to SAR. 2.08 billion.

SICO Profit Estimates- (SAR mln)

Company

Q3-2016 estimates

Y-o-Y change

Al Rajhi Bank

2,081

+21%

Alinma Bank

393

+5%

ANB

799

+5%

Banque Saudi Fransi

1,047

+3%

NCB

2,386

+20%

Riyad Bank

1,133

+26%

Samba

1,341

(2%)

SABB

1,156

+1%

SABIC

4,445

(21%)

Tasnee

145

--

Yansab

586

+94%

Sipchem

51

(28%)

Advanced Petrochemicals

202

(14%)

Alujain

33

(28%)

Safco

255

(55%)

Kayan

105

--

SIIG

210

+2%

Petrochem

230

(28%)

STC

2,219

(4%)

Mobily

32

--

Yanbu Cement

91

(37%)

Yamama Cement

61

(37%)

Arabian Cement

59

(34%)

Saudi Cement

176

(15%)

Southern Province Cement

175

(13%)

Qassim Cement

88

(24%)

Maaden

148

+32%

Saudi Ground Services

190

+14%

Almarai

639.5

+7%

Al Othaim

39

+5%

Jarir

198

(9%)

Herfy

61

+8%

Care

30

+18%

Mouwasat

50

+16%

Dallah Healthcare

28

+6%

Al Hammadi

26

(7%)

MEAHCO

69

(24%)


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