Riyad Capital has issued third quarter net profit forecasts for a number of Saudi cement producers and banks under its coverage.
Al Rajhi Bank is expected to make SAR 2.1 billion earnings in Q3 2016, rising 24 percent year-on-year (YoY).
Meanwhile, Samba Financial Group is seen making SAR 1.3 billion profit in the third quarter of 2016, down 4 percent YoY, on a 0.8 percent decline in deposits.
Yamama Cement is projected to post a 26 percent slump in Q3 profit to SAR 71 million, due to lower production on seasonality factors.
Saudi Cement Co. is estimated to generate SAR 176 million profit in Q3, down 15 percent YoY, on lower demand.
|
Riyad Capital Profit Estimates - (SAR mln) |
||
|
Company |
Q3-2016 estimates |
Y-o-Y change |
|
Yamama Cement |
71 |
(26%) |
|
Yanbu Cement |
124 |
(14%) |
|
Qassim Cement |
83 |
(28%) |
|
Southern Province Cement |
191 |
(6%) |
|
Saudi Cement |
176 |
(15%) |
|
Saudi Hollandi Bank |
498 |
+1% |
|
Banque Saudi Fransi |
1,032 |
+1% |
|
SABB |
1,158 |
+2% |
|
ANB |
791 |
+3% |
|
Samba |
1,310 |
(4%) |
|
Al Rajhi Bank |
2,138 |
+24% |
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