11/05/2017 Argaam Exclusive
AI Summary
Saudi agricultural and food companies have reported aggregate net profit of SAR 540 million in Q1 2017, missing analysts’ estimates of SAR 720 million by 25 percent, according to data compiled by Argaam.
Savola Group reported the biggest miss of 96 percent, after posting a net profit of SAR 4.80 million.
National Agriculture Development Co. (NADEC) came second, missing estimates of SAR 25.50 million by 83 percent, after reporting SAR 4.33 million net profit in Q1 2017.
Al-Jouf Agricultural Development Co. and Almarai followed, as their net profit was lower than expected by 24.5 percent and 5.1 percent, respectively.
| Company | 2017 - Q1 (net income) | 2017 - Q1 (e) | Change |
| ALMARAI | 328.27 | 345.88 | (5.1 %) |
| HERFY FOODS | 52.72 | 57.58 | (8.4 %) |
| SAVOLA GROUP | 4.78 | 127.75 | (96.3 %) |
| CATRION | 121.39 | 137.00 | (11.4 %) |
| NADEC | 4.34 | 25.50 | (83.0 %) |
| ALJOUF | 8.11 | 10.75 | (24.5 %) |
| SADAFCO | 77.07 | 78.00 | (1.2 %) |
| HB | 20.42 | 16.00 | 27.7 % |
| Total | 617.10 | 798.46 | (22.7 %) |
Saudi Airlines Catering Co.’s net profit came 11.4 percent below forecasts at SAR 121.4 million.
However, food manufacturer Halwani Bros’ net profit of SAR 20.40 million beat expectations of SAR 16 million by 27.5 percent in Q1 2017.
Average Q1 estimates were issued by eight Saudi brokerage firms, including: Aljazira Capital, Albilad Capital, NCB Capital and Osool & Bakheet Investment Co.
| Company | 2017 - Q1 (net income) | 2017 - Q1 (e) | Most Accurate Research Company |
| ALMARAI | 328.27 | 323.30 | Arbah Capital |
| HERFY FOODS | 52.72 | 55.90 | OSOOL AND BAKHEET |
| SAVOLA GROUP | 4.78 | 104.00 | Albilad Capital |
| CATRION | 121.39 | 128.00 | Al Rajhi Capital |
| NADEC | 4.34 | 24.80 | Albilad Capital |
| ALJOUF | 8.11 | 9.90 | OSOOL AND BAKHEET |
| SADAFCO | 77.07 | 75.00 | Hermes |
| HB | 20.42 | 16.00 | AlJazira Capital |
| TASI | 10,696.89 | (35.42) | (0.33 %) |
| NADEC | 20.65 | (0.05) | (0.24%) |
| GACO | 15.87 | 0.00 | 0.00% |
| TADCO | 10.14 | (0.14) | (1.37%) |
| SFICO | 86.25 | (1.15) | (1.31%) |
| SHARQIYAH DEV | 15.89 | (0.07) | (0.43%) |
| ALJOUF | 44.56 | (0.40) | (0.89%) |
| JAZADCO | 10.33 | (0.22) | (2.08%) |
| ALMARAI | 47.60 | 0.12 | 0.25% |
| WAFRAH | 25.90 | (0.72) | (2.70%) |
| SADAFCO | 262.40 | (4.60) | (1.72%) |
| SAVOLA GROUP | 23.64 | (0.26) | (1.08%) |
| ANAAM HOLDING | 15.64 | 0.23 | 1.49% |
| HB | 40.62 | (0.30) | (0.73%) |
| HERFY FOODS | 22.29 | (0.65) | (2.83%) |
| CATRION | 99.15 | (1.30) | (1.29%) |
| DWF | 122.00 | 7.60 | 6.53% |
| BURGERIZZR | 15.75 | (0.08) | (0.50%) |
| ARABIAN MILLS | 41.62 | (0.44) | (1.05%) |
| FOURTH MILLING | 3.97 | (0.04) | (1.00%) |
| TANMIAH | 77.70 | (1.20) | (1.52%) |
| NAQI | 50.75 | 0.15 | 0.29% |
| FIRST MILLS | 51.40 | (0.75) | (1.44%) |
| MODERN MILLS | 31.44 | (0.14) | (0.44%) |
| ENTAJ | 39.50 | (0.62) | (1.54%) |
Be the first to comment
Comments Analysis: