KASB Capital on Monday has issued its Q1 2017 earnings forecasts for Saudi-listed companies under its coverage, including Saudi Basic Industries Corp (SABIC), Al Rajhi Bank, and Saudi Telecom Co. (STC).
SABIC’s Q1 profit is expected to rise by 48 percent year-on-year (YoY) to SAR 5.04 billion, while banking heavyweight Al Rajhi is likely to see a profit of SAR 2.17 billion, up 7 percent YoY.
Elsewhere, cement firms are unlikely to see higher earnings this quarter since the building and construction sector is still suffering from tighter government spending amid weak oil prices.
|
KASB Capital’s Forecasts (SAR mln) |
||
|
Company |
Q1 2017 estimates |
YoY Variation |
|
Al Rajhi Bank |
2,167.1 |
+7% |
|
Alinma Bank |
426.8 |
+9% |
|
Bank Albilad |
187.8 |
+8% |
|
Aljazira Bank |
189.2 |
(50%) |
|
SABIC |
5,041.0 |
+48% |
|
Yansab |
629.2 |
+57% |
|
SAFCO |
321.3 |
+12% |
|
Advanced |
193.6 |
+33% |
|
STC |
2,199.6 |
(7%) |
|
Saudi Cement |
187.4 |
(29%) |
|
Yanbu Cement |
115.0 |
(38%) |
|
SPCC |
157.8 |
(44%) |
|
Yamama Cement |
58.3 |
(61%) |
|
Qassim Cement |
95.4 |
(30%) |
|
Arabian Cement |
49.7 |
(78%) |
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