SICO Investment Bank has released its fourth quarter net profit forecast for a number of Tadawul-listed Saudi firms under its coverage.
Saudi Basic Industries Corp.’s fourth quarter profit is expected to rise 72 percent to SAR 5.28 billion.
SICO forecast Saudi Telecom Co.’s (STC) net income to drop 5 percent to SAR 1.85 billion.
“Saudi telcos to report lower YoY (year-on-year) earnings led by macro weakness,” the firm said in an earnings review.
Al Rajhi Bank’s profit is expected to surge 4 percent to SAR. 2.02 billion while National Commercial Bank’s (NCB) net profit is expected to drop 5 percent to SAR 2.02 billion.
The firm added that declining interbank rate would stabilize funding cost and support the net interest margins of Saudi banks.
|
SICO Q4 Forecasts (SAR mln) |
||
|
Company |
Q4-2016 Estimates |
YoY Variation |
|
Banks |
||
|
Al Rajhi Bank |
2,024 |
+4% |
|
Alinma Bank |
365 |
(5%) |
|
Arab National Bank |
673 |
+13% |
|
Banque Saudi Fransi |
1,017 |
+7% |
|
NCB |
2,023 |
(5%) |
|
Riyad Bank |
763 |
(10%) |
|
Samba |
1,399 |
+14% |
|
SABB |
990 |
+5% |
|
Petrochemicals Sector |
||
|
SABIC |
5,280 |
+72% |
|
Tasnee |
165 |
-- |
|
Yansab |
586 |
+49% |
|
Sipchem |
81 |
+211% |
|
Advanced Petrochemicals |
170 |
+17% |
|
Alujain |
31 |
+13% |
|
Safco |
267 |
(30%) |
|
Kayan |
170 |
-- |
|
SIIG |
26 |
(52%) |
|
Petrochem |
(32) |
-- |
|
Telecommunications |
||
|
Saudi Telecom |
1,847 |
(5%) |
|
Cement Sector |
||
|
Yanbu Cement |
171 |
(18%) |
|
Yamama Cement |
115 |
(36%) |
|
Arabian Cement |
115 |
(27%) |
|
Saudi Cement |
203 |
+13% |
|
Southern Province Cement |
183 |
(39%) |
|
Qassim Cement |
89 |
(37%) |
|
Industrial Sector |
||
|
Maaden |
82 |
-- |
|
Transport Sector |
||
|
Saudi Ground Services |
176 |
+4% |
|
Retail Sector |
||
|
Almarai |
505 |
+4% |
|
Al Othaim |
97 |
+9% |
|
Jarir |
204 |
(2%) |
|
Herfy |
48 |
+6% |
|
Healthcare Sector |
||
|
Care |
37 |
+6% |
|
Mouwasat |
63 |
+17% |
|
Dallah Healthcare |
64 |
+16% |
|
Al Hammadi |
27 |
(25%) |
|
MEAHCO |
85 |
(17%) |
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