Riyad Capital issues Q2 forecasts; Al Rajhi seen up 11%

08/07/2018 Argaam

 

Riyad Capital Co. has issued Q2 2018 earnings estimates for several Tadawul-listed companies under its coverage.

 

Al Rajhi Bank is forecasted to report SAR 2.4 billion earnings in Q2, rising 11 percent YoY.

 

 Among petrochemical firms, Saudi Basic Industries Corp. (SABIC) is expected to report a year-on-year (YoY) profit increase of 46 percent to SAR 5.4 billion.

 

In the cement sector, Yamama Cement Co. is projected to generate the highest profit increase of 133 percent to SAR 28 million in net profit in Q2.

 

Elsewhere, STC earnings are forecasted to fall 10 percent YoY.

 

Riyad Capital Q2 2018 profit estimates (SAR mln)

Company

Q2 2018 estimates

YoY Variation

Banks

Alawwal

242

(25%)

BSF

1,073

+7%

SABB

1,109

(2%)

ANB

856

+1%

Samba

1,290

+1%

Al Rajhi

2,412

+11%

Albilad

270

+14%

Alinma

602

+23%

NCB

2,475

+2%

Petrochemicals

Petrochem

273

+107%

SABIC

5,421

+46%

SAFCO

296

+45%

SIIG

276

+289%

Sahara

144

+62%

Yansab

772

+123%

Sipchem

160

+167%

Kayan

451

+86%

Telecom

STC

2,675

(10%)

Mobily

(90)

(52%)

Zain

(40)

--

Cement

Yamama

28

+133%

Saudi

99

+5%

Qassim

45

(15%)

Southern

82

(14%)

Yanbu

45

(44%)

Retail

Jarir

154

+5%

 

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