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×Saudi cement firms' forecast to post 49% profit drop in Q3
The aggregate profit of Saudi Arabia’s cement sector is expected to fall 48.8 percent year-on-year (YoY) to SAR 389.8 million in Q3 2017, according to average estimates compiled by Argaam.
Outlook remained bearish for the sector players, except for Umm Al-Qura Cement Co., which is projected to swing to a net profit of 7.60 million versus a net loss of SAR 4.28 million in Q3 2016.
City Cement is expected to be the biggest drag, with a profit drop of 69 percent YoY.
Earnings of Yamama Cement and Arabian Cement are likely to fall by 62 percent and 61 percent YoY, respectively.
Company | No. of Analysts | 2016 - Q3 (a) | 2017 - Q3 (e) | Difference |
YCC | 10 | 92.06 | 66.75 | (27.5 %) |
SAUDI CEMENT | 9 | 202.28 | 83.75 | (58.6 %) |
QACCO | 8 | 69.45 | 49.77 | (28.3 %) |
SPCC | 8 | 173.56 | 84.01 | (51.6 %) |
YSCC | 8 | 56.31 | 21.59 | (61.7 %) |
ACC | 6 | 97.17 | 37.79 | (61.1 %) |
EPCCO | 4 | 42.03 | 28.88 | (31.3 %) |
CITY CEMENT | 2 | 32.92 | 9.85 | (70.1 %) |
UACC | 1 | (4.28) | 7.60 | 277.7 % |
Total | 10 | 761.50 | 389.98 | (48.8 %) |
Aljazira Capital and Osool & Bakheet provided estimates for 13 cement producers, while Albilad covered only three
Estimates per Analyst
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Market Index
TASI | 12,254.53 | (101.16) | (0.82 %) |
Stock Prices
ACC | 30.80 | (0.25) | (0.81%) |
EPCCO | 33.40 | (0.60) | (1.76%) |
QACCO | 57.00 | (0.50) | (0.87%) |
SAUDI CEMENT | 45.65 | (1.50) | (3.19%) |
SPCC | 39.30 | (0.35) | (0.88%) |
TCC | 12.66 | (0.04) | (0.31%) |
YSCC | 32.25 | 0.20 | 0.62% |
YCC | 28.10 | (0.20) | (0.71%) |
HCC | 11.26 | 0.02 | 0.18% |
JOUF CEMENT | 11.42 | (0.08) | (0.70%) |
NORTHERN CEMENT | 9.65 | (0.04) | (0.41%) |
NAJRAN CEMENT | 9.86 | (0.02) | (0.20%) |
CITY CEMENT | 19.74 | 0.16 | 0.81% |
UACC | 15.56 | (0.02) | (0.13%) |
RIYADH CEMENT | 27.15 | (0.05) | (0.18%) |
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