SABIC likely to see 23% profit drop in Q2: Osool & Bakheet

Saudi Basic Industries Corp. (SABIC), the kingdom’s largest petrochemicals producer, is likely to report a 23 percent profit drop in upcoming second quarter results to SAR 4.96 billion, Osool & Bakheet Investment Group said in its latest report.

The firm issued forecasts for a number of Tadawul-listed banks and companies, including Sahara Petrochemical and National Commercial Bank (NCB).

Sahara is projected to record an 85 percent drop, compared to the same period last year.

Al Rajhi, the kingdom’s second largest bank by assets, is seen to post a nine percent decline, while NCB profit may rise five percent year-on-year.

Osool & Bakheet Estimates – Q2-2015 (SAR mln)
YoY change	Q2-2015 estimations	Company
+5%	2,551.6	NCB
+7%	1,216.1	RIBL
+362%	770.0	BJAZ
+9%	383.1	Saudi Investment
+5%	929.6	Banque Saudi Fransi
(-2%)	1,133.5	SABB
+1%	1,264.9	SAMBA
(-9%)	1,777.6	Al Rajhi Bank
+9%	223.3	Al Bilad
+18%	363.5	Alinma
+4%	501.9	Saudi Hollandi
+1%	789.6	ANB
(-23%)	4,960.0	SABIC
+6%	674.2	SAFCO
(-27%)	298.2	Tasnee
(-85%)	28.4	Sahara Petrochemical
(-31%)	145.2	Saudi Industrial Investment Group
(-17%)	153.3	Advanced
(-2%)	45.1	Hail Cement
+6%	89.7	Najran Cement
+2%	204.7	Arabia Cement
+13%	70.5	City Cement
(-5%)	58.9	Northern Region cement
+4%	307.1	Southern Region Cement
(-2%)	282.3	Saudi Cement
(-52%)	179.7	Ma’aden
(-76%)	6.7	Takween
+127%	85.8	Bupa Arabia
(-17%)	25.9	National Medical Care
+24%	167.0	Jarir
+15%	40.7	Aldrees
+104%	265.5	Al Bahri
+10%	564.0	SAVOLA
+13%	490.5	Almarai
+19%	27.6	Halwani Bros.
+21%	63.4	Herfy
+10%	181.2	Saudi Airlines catering

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