Bahrain-based SICO Investment Bank has released its second quarter net profit forecast for a number of Tadawul-listed Saudi firms under its coverage.
Saudi Basic Industries Corp.’s (SABIC) second quarter profit is expected to drop 8 percent to SAR 4.4 billion.
SICO forecast Saudi Telecom Co.’s (STC) net income to rise 32 percent to SAR 2.5 billion.
Al Rajhi Bank’s profit is expected to jump 9 percent to SAR 2.2 billion while National Commercial Bank’s (NCB) net profit is expected to leap 8 percent to SAR 2.6 billion.
Saudi Arabian Mining Co. (Maaden) is projected to report a 148 percent profit surge in Q2 to SAR 329 million.
Also, utility provider Saudi Electricity Co. (SEC) is seen making SAR 1.5 billion in profit in Q2, up 6 percent.
|
SICO Q2 Forecasts (SAR mln) |
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|
Company |
Q2-2017 Estimates |
YoY Variation |
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|
Banks |
||||
|
Al Rajhi Bank |
2,241 |
9%+ |
||
|
Alinma Bank |
434 |
6%+ |
||
|
Arab National Bank |
812 |
(1%) |
||
|
Banque Saudi Fransi |
1,081 |
3%+ |
||
|
NCB |
2,627 |
8%+ |
||
|
Riyad Bank |
1,113 |
(3%) |
||
|
Samba |
1,292 |
(2%) |
||
|
SABB |
1,028 |
(11%) |
||
|
Petrochemicals Sector |
||||
|
SABIC |
4,374 |
(8%) |
||
|
Tasnee |
129 |
24%+ |
||
|
Yansab |
324 |
(53%) |
||
|
Sipchem |
37 |
43%+ |
||
|
Advanced Petrochemicals |
136 |
(27%) |
||
|
Alujain |
4 |
(89%) |
||
|
SAFCO |
344 |
15%+ |
||
|
Kayan |
198 |
117%+ |
||
|
SIIG |
145 |
(33%) |
||
|
Petrochem |
115 |
(45%) |
||
|
Telecommunications |
||||
|
Saudi Telecom |
2454 |
32%+ |
||
|
Mobily |
(173) |
-- |
||
|
Cement Sector |
||||
|
Yanbu Cement |
70 |
(56%) |
||
|
Yamama Cement |
80 |
(31%) |
||
|
Arabian Cement |
56 |
(60%) |
||
|
Saudi Cement |
108 |
(57%) |
||
|
Southern Province Cement |
83 |
(69%) |
||
|
Qassim Cement |
55 |
(52%) |
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|
Industrial Sector |
||||
|
Maaden |
329 |
+148% |
||
|
Al Yamamah Steel Industries |
34 |
(49%) |
||
|
Energy Sector |
||||
|
Saudi Electricity |
1,518 |
+6% |
||
|
Transport Sector |
||||
|
Saudi Ground Services |
170 |
(13%) |
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|
Healthcare Sector |
||||
|
Care |
18 |
(70%) |
||
|
Mouwasat |
73 |
17%+ |
||
|
Dallah Healthcare |
64 |
18%+ |
||
|
Al Hammadi |
25 |
18%+ |
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|
MEAHCO |
81 |
6%+ |
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