Osool & Bakheet issues Q1 forecasts; SABIC seen down 3%
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Osool and Bakheet Investment Co. has issued Q1 2018 earnings estimates for several Tadawul-listed companies under its coverage.
Among petrochemical firms, Saudi Basic Industries Corp. (SABIC) is expected to report a year-on-year (YoY) profit decline of 3 percent to SAR 5.09 billion.
In the banking sector, Al Rajhi Bank is forecast to report SAR 2.47 billion earnings in Q1, rising 11 percent YoY.
Alinma Bank is estimated to post a 42 percent year-on-year (YoY) hike in earnings to SAR 596.6 million.
In the cement sector, Arabian Cement Co. is projected to generate SAR 105.5 million in net profit in Q1, rising 5 percent YoY. Remaining cement producers are expected to report profit declines during the same period.
Among the healthcare providers, National Medical Care Co. (Care) is projected to post the highest profit jump of 78 percent YoY to SAR 27.7 million.