Saudi Basic Industries Corp. (SABIC) is expected to report a 45 percent year-on-year (YoY) jump in Q4 net profit to SAR 4.5 billion, according to KSB Capital.
The financial services company has issued its fourth-quarter net profit forecast for 14 Tadawul-listed firms under its coverage.
Yansab, which is 51 percent-owned by SABIC, will likely post the biggest profit increase in the sector—up 57 percent YoY to SAR 617 million.
In the banking sector, Al-Rajhi Bank’s profit is seen rising 12 percent YoY to SAR 2.2 billion in the same period.
Saudi Telecom Co.’s (STC) net income is expected to grow by 7 percent YoY to SAR 2.1 billion.
Saudi Cement Co. is forecast to be the sole gainer in the sector, with profit projected to edge up 0.6 percent YoY to SAR 181 million.
Yamama Cement would see the biggest profit fall of 42 percent YoY in the fourth quarter.
KSB Capital Q4-2016 profit estimates (SAR mln)
Al Rajhi Bank
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