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NCB Capital issues Q2 forecasts; Al Rajhi Bank seen 3% higher
NCB Capital (NCBC) has issued Q2 2017 earnings forecasts for several Tadawul-listed companies under its coverage.
Among petrochemical firms, Saudi Basic Industries Corp. (SABIC) is expected to report a year-on-year (YoY) profit decline of 5 percent to SAR 4.5 billion.
National Petrochemical Co. (Petrochem) is seen to record the biggest profit drop of 56 YoY to SAR 92 million.
Meanwhile, forecasts were positive for two out of 11 banks under its coverage. Al Rajhi Bank is likely to report a net profit of SAR 2.1 billion, a rise of 3.3 percent YoY. Albilad Bank is projected to register the biggest profit rise of 17.2 percent YoY.
Alawwal Bank will likely post the steepest profit decline of 32 percent YoY.
The outlook was negative for all cement firms under coverage, dragged by Southern Province Cement and Yamama Cement, with YoY profit drops of 63 percent and 56 percent, respectively.
In the telecommunications sector, Saudi Telecom Co.’s (STC) earnings are forecast to climb 23 percent YoY.
State-owned utility Saudi Electricity Co. is seen to post a 1 percent profit rise to SAR 1.4 billion in the same period.
|
NCB Capital Profit Estimates (SAR mln) |
||
|
Company |
Q2 forecast |
YoY change |
|
|
Petrochemicals |
|
|
SABIC |
4,508 |
(4.8%) |
|
SIIG |
163 |
(24.7%) |
|
Yansab |
474 |
(31.2%) |
|
Advanced Petrochemicals |
133 |
(28.9%) |
|
Tasnee |
123 |
18.8% |
|
Sipchem |
35 |
33% |
|
Sahara Petrochemicals |
84 |
(13.3%) |
|
SAFCO |
241 |
(19.6%) |
|
Saudi Kayan |
227 |
149.2% |
|
Petrochem |
92 |
(55.8%) |
|
|
Telecom |
|
|
STC |
2,303 |
23.4% |
|
Mobily |
(150) |
-- |
|
Zain |
31 |
-- |
|
|
Food and Beverage |
|
|
Savola |
170 |
(31.0%) |
|
Almarai |
664 |
5.5% |
|
|
Healthcare |
|
|
Saudi German |
86 |
11.5% |
|
Mouwasat |
74 |
19.6% |
|
Al Hammadi |
27 |
27.5% |
|
|
Religious Tourism |
|
|
SGS |
197 |
0.3% |
|
Catering |
163 |
12.1% |
|
Al Tayyar |
229 |
(23.7%) |
|
|
Retail |
|
|
eXtra |
19 |
57.9% |
|
Al Hokair |
231 |
8.6% |
|
Shaker |
12 |
(75.4%) |
|
Jarir |
152 |
18.6% |
|
Al Othaim |
66 |
30.7% |
|
|
Cement |
|
|
Arabian Cement |
68 |
(52.5%) |
|
Yamama Cement |
51 |
(56%) |
|
Eastern Province Cement |
39 |
(20.4%) |
|
Qassim Cement |
70 |
(39.2%) |
|
Southern Province Cement |
100 |
(62.8%) |
|
Saudi Cement |
144 |
(42.2%) |
|
Yanbu Cement |
97 |
(39%) |
|
|
Real Estate |
|
|
Dar Al-Arkan |
20 |
(54.6%) |
|
Taiba |
72 |
5.6% |
|
Al Akaria |
37 |
92.9% |
|
|
Banks |
|
|
Al Rajhi Bank |
2,120 |
3.3% |
|
Alinma Bank |
401 |
(2.1%) |
|
Banque Saudi Fransi |
1,044 |
(0.4%) |
|
Riyad Bank |
1,014 |
(11.5%) |
|
SABB |
1,038 |
(9.9%) |
|
Saudi Investment Bank |
310 |
(3.6%) |
|
Samba |
1,215 |
(7.5%) |
|
Alawwal Bank |
369 |
(31.6%) |
|
ANB |
730 |
(10.8%) |
|
Bank Albilad |
215 |
17.2% |
|
Bank Aljazira |
175 |
(1.3%) |
|
|
Others |
|
|
Saudi Electricity |
1,439 |
0.9% |
|
Saudi Steel Pipe |
8 |
43.9% |
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