Saudi Telecom Company (STC), the kingdom’s largest mobile and fixed line operator, is expected to post SAR 3.27 billion in second quarter profit, a 17 percent growth year-on-year, KSB Capital Group said in its latest report.
The firm issued profit forecasts for a number of Tadawul-listed banks and companies, including Saudi Basic Industries Corp. (SABIC), Al Rajhi Bank, and Almarai Company.
SABIC, the kingdom’s largest petrochemicals producer, is likely to post SAR 3.96 billion in earnings for second quarter, a 39 percent drop YoY, KSB said. Osool & Bakheet Investment in its latest report predicted a 23 percent drop to SAR 4.96 billion for SABIC, while Alistithmar Capital expects the petrochemical giant to post a 24 percent decline to SAR 4.88 billion.
According to KSB, Al Rajhi Bank is seen to report an 11 percent decline in Q2, while Almarai’s profit is projected to rise one percent YoY.
|
KSB Capital Estimates – Q2-2015 (SAR mln) |
||
|
YoY change |
Q2-2015 estimations |
Company |
|
(-11%) |
1,730 |
Al Rajhi Bank |
|
+8% |
332 |
Alinma |
|
+21% |
248 |
Al Bilad |
|
+12% |
186 |
BJAZ |
|
(-39%) |
3,958 |
SABIC |
|
(-27%) |
450 |
Yansab |
|
+1% |
648 |
SAFCO |
|
+17% |
3,268 |
STC |
|
(-4%) |
276 |
Saudi Cement |
|
-- |
242 |
Yabu Cement |
|
(-12%) |
259 |
Southern Province Cement |
|
(-19%) |
35 |
Tabuk Cement |
|
(-5%) |
77 |
Eastern Province Cement |
|
(-1%) |
159 |
Qassim Cement |
|
(-10%) |
326 |
Al Tayyar |
|
+2% |
521 |
Savola |
|
+1% |
438 |
Almarai |
|
+8% |
57 |
Herfy |
|
+9% |
39 |
Al Drees |
|
+33% |
46 |
Dallah |
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