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×Saudi agri-food firms to see 41% profit rise in Q3
The combined net profit of eight Saudi-listed agriculture and food producing companies is expected to rise 41 percent year-on-year (YoY) to SAR 1.68 billion in Q3 2017, according to consensus estimates of equity research firms compiled by Argaam.
Earnings forecasts for most agri-food companies were negative, with the exception of Savola Group and Saudia Dairy and Foodstuff Co. (SADAFCO).
Al Jouf Agricultural is expected to see the steepest profit decline of 42 percent YoY for the quarter with net income estimated at SAR 19.60 million.
The National Agricultural Development Company (NADEC) is projected to record third-quarter profit of SAR 18.60 million, down by 38.3 percent YoY, while Halwani Bros.is forecast to see profit decline by 35.6 percent YoY to SAR 14.50 million in Q3 2017.
Meanwhile, Savola is estimated to see the highest profit growth of 336.0 percent YoY to SAR 756.2 million in Q3 2017, followed by SADAFCO which is projected to generate SAR 74.9 million in profit, up by 2.2 percent YoY in Q3.
Company | No. of Analysts | 2016 - Q3 (a) | 2017 - Q3 (e) | Difference |
ALMARAI | 9 | 664.26 | 598.91 | (9.8 %) |
HERFY FOODS | 6 | 59.29 | 58.63 | (1.1 %) |
CATRION | 6 | 139.24 | 142.61 | 2.4 % |
SAVOLA GROUP | 4 | 179.51 | 756.23 | 321.3 % |
NADEC | 2 | 28.65 | 18.60 | (35.1 %) |
ALJOUF | 1 | 32.89 | 19.60 | (40.4 %) |
SADAFCO | 1 | 67.84 | 73.00 | 7.6 % |
HB | 1 | 22.36 | 14.50 | (35.1 %) |
Total | 9 | 1,194.03 | 1682.07 | 40.9 % |
Estimates per Analyst
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Market Index
TASI | 12,355.69 | (128.72) | (1.03 %) |
Stock Prices
NADEC | 32.45 | (0.95) | (2.83%) |
GACO | 18.12 | (0.30) | (1.63%) |
TADCO | 19.40 | (0.50) | (2.52%) |
SFICO | 24.58 | (0.38) | (1.53%) |
SHARQIYAH DEV | 23.74 | (0.50) | (2.08%) |
ALJOUF | 50.90 | (1.70) | (3.24%) |
JAZADCO | 16.44 | (0.38) | (2.28%) |
ALMARAI | 57.10 | (1.40) | (2.41%) |
WAFRAH | 47.50 | (1.30) | (2.67%) |
SADAFCO | 347.40 | (12.80) | (3.55%) |
SAVOLA GROUP | 50.50 | (1.10) | (2.14%) |
ANAAM HOLDING | 1.08 | (0.01) | (0.92%) |
HB | 49.90 | (0.40) | (0.79%) |
HERFY FOODS | 31.45 | (0.70) | (2.18%) |
CATRION | 126.60 | 0.40 | 0.32% |
DWF | 122.20 | 1.60 | 1.33% |
TANMIAH | 137.60 | (5.00) | (3.50%) |
NAQI | 70.10 | (1.00) | (1.41%) |
AMERICANA | 3.35 | 0.00 | 0.00% |
FIRST MILLS | 78.90 | 4.20 | 5.63% |
MODERN MILLS | 56.00 | 2.00 | 3.70% |
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