Bahrain-based SICO Investment Bank has issued Q3 2017 earnings estimates for several Tadawul-listed companies under its coverage.
Among banking stocks, Al Rajhi Bank’s net profit is expected to rise 4 percent year-on-year (YoY) to SAR 2.2 billion. Alinma Bank is forecasted to report 13 percent profit growth YoY in Q3.
In the petrochemicals sector, Saudi Basic Industries Corporation (SABIC) Q3 earnings are expected to fall 15 percent YoY to SAR 4.4 billion.
Meanwhile, SAFCO's Q3 earnings are forecasted to jump by 39 percent YoY.
Elsewhere, Saudi Telecom Co. (STC) is seen making net profit of SAR 2.1 billion in Q3, a decline of 1 percent.
Forecasts for cement companies were negative across the board, with Arabian Cement and Saudi Cement’s net profit plunging 52 percent and 58 percent respectively YoY in Q3.
In the energy sector, Saudi utility provider Saudi Electricity Co. (SEC) is seen making a net profit of 4.9 billion in Q3, up 10 percent YoY.
|
SICO Bank Profit Forecasts (SAR mln) |
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|
Company |
Q3 2017 Estimates |
YoY Variation |
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|
Banks |
||||
|
Al Rajhi Bank |
2,195 |
+9% |
||
|
Alinma Bank |
498 |
+60% |
||
|
ANB |
824 |
+14% |
||
|
BSF |
1,015 |
+1% |
||
|
NCB |
2,291 |
+17% |
||
|
Riyad Bank |
823 |
+13% |
||
|
Samba |
1,286 |
(4%) |
||
|
SABB |
1,089 |
+9% |
||
|
Petrochemicals Sector |
||||
|
SABIC |
4,445 |
(15%) |
||
|
Tasnee |
138 |
+13% |
||
|
Yansab |
637 |
+5% |
||
|
Sipchem |
96 |
-- |
||
|
Alujain |
30 |
(17%) |
||
|
SAFCO |
253 |
+39% |
||
|
Saudi Kayan |
195 |
+24% |
||
|
SIIG |
242 |
+49% |
||
|
Petrochem |
178 |
(7%) |
||
|
Telecommunications |
||||
|
STC |
2,125 |
(1%) |
||
|
Mobily |
(186) |
-- |
||
|
Cement Sector |
||||
|
Yanbu Cement |
65 |
(31%) |
||
|
Yamama Cement |
31 |
(45%) |
||
|
Arabian Cement |
47 |
(52%) |
||
|
Saudi Cement |
84 |
(58%) |
||
|
Southern Province Cement |
84 |
(51%) |
||
|
Qassim Cement |
48 |
(31%) |
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|
Industrial Sector |
||||
|
Maaden |
311 |
+272% |
||
|
Al Yamamah Steel* |
28 |
+30% |
||
|
Energy Sector |
||||
|
SEC |
4,863 |
+10% |
||
|
Transport Sector |
||||
|
SGS |
151 |
(21%) |
||
|
Healthcare Sector |
||||
|
Care |
21 |
(29%) |
||
|
Mouwasat |
65 |
+30% |
||
|
Dallah Healthcare |
60 |
(2%) |
||
|
Al Hammadi |
28 |
+31% |
||
|
MEAHCO |
67 |
(27%) |
||
|
Other Sectors |
||||
|
Almarai |
602 |
(8%) |
||
|
Jarir |
222 |
+1% |
||
|
Herfy |
61 |
+4% |
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