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×Albilad Capital issues Q3 earnings forecasts for Tadawul companies
Albilad Capital has issued third quarter earnings forecasts for a number of Tadawul-listed entities under its coverage.
Saudi Basic Industries Corporation (SABIC) is expected to make a net profit of SAR 5.77 billion in Q3-2016, up 3 percent YoY, on the slight improvement in petrochemical products prices during Q3.
Yanbu National Petrochemical Co. (Yansab) Q3 profit is projected to surge by 132 percent YoY to SAR 700 million.
However, Saudi Arabian Fertilizer Co. (SAFCO) is estimated to post a 53 percent decline YoY in Q3 earnings to SAR 268 million.
Meanwhile, Al Rajhi Bank is seen making a net profit of SAR 2.1 billion in the third quarter of 2016, up by 22 percent year-on-year.
Yanbu Cement's earnings for the third quarter are seen falling by 14 percent YoY to SAR 125 million, due to seasonality and high temperatures. In addition, the third quarter coincided with the end of Ramadan and the pilgrimage season.
Saudi Telecom Co. (STC) is forecast to post a 6 percent drop YoY in Q3 2016 earnings to SAR 2.18 billion, due to seasonal factors and summer holiday.
Almarai, the kingdom's largest dairy producer, is forecast to see a 2 percent rise YoY in Q3 earnings to SAR 605 million, due to higher demand in the summer holidays and during Ramadan.
Maaden's earnings for Q3 2016 are projected to jump by 58 percent YoY to SAR 126 million.
Albilad Capital Q3-2016 profit estimates (SAR mln) |
||
Company |
Q3-2016 estimates |
Y-o-Y change |
Bank AlJazira |
183 |
+10% |
Al Rajhi Bank |
2,103 |
+22% |
Alinma |
427 |
+14% |
SABIC |
5,772 |
+3% |
Safco |
268 |
(53%) |
Yansab |
700 |
+132% |
Advanced |
218 |
(7%) |
Yamama Cement |
78 |
(18%) |
Saudi Cement |
193 |
(7%) |
Yanbu Cement |
125 |
(14%) |
Al Othaim |
40 |
+7% |
Al Mouwasat |
51 |
+18% |
eXtra |
17 |
+43% |
Dallah |
39 |
+46% |
Care |
36 |
+41% |
Farm Superstore |
29 |
(1%) |
Al Hammadi |
23 |
(15%) |
Jarir |
180 |
(18%) |
Savola |
185 |
(50%) |
Almarai |
605 |
+2% |
Herfy |
55 |
(3%) |
Catering |
154 |
(7%) |
Nadec |
45 |
(2%) |
STC |
2,178 |
(6%) |
Mobily |
26 |
-- |
Zain |
(281) |
-- |
Maaden |
126 |
+58% |
Bahri |
525 |
+3% |
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