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Aljazira Cap issues Q3 forecasts; Al-Rajhi to see 12% profit rise
Aljazira Capital has issued forecasts for Q3 2017 net profit for 40 Tadawul-listed companies under coverage.
Al-Rajhi Bank is expected to see an 11.6 percent year-on-year (YoY) growth in net profit to SAR 2.24 billion for Q3.
Bank Alinma will likely report the largest profit growth among peers at 61 percent YoY to SAR 501 million.
Petrochemical giant Saudi Basic Industries Corporation (SABIC) is projected to post a net profit decline of 21 percent YoY to SAR 4.14 billion in the same period.
Saudi Telecom Co. (STC), the Kingdom’s largest telecom operator, is projected to see its net profit higher by 8 percent YoY to SAR 2.3 billion.
Saudi retailer Jarir Marketing Co.’s net profit is forecast to grow by 7.9 percent YoY to SAR 237.5 million.
Abdullah Al Othaim Markets is expected to record a 22.8 percent jump YoY in net income for the same period.
In the health sector, Mouwasat Medical Services Co. is likely to record the largest profit rise at 35.4 percent YoY among peers, the brokerage firm added.
Elsewhere, Halwani Bros. and dairy producer Almarai are expected to report profit declines of 35.6 percent and 9.3 percent YoY, respectively in Q3 2017.
AlJazira delivered bearish outlook for all cement producers, dragged by Yamama Cement with a profit fall of 82 percent YoY.
|
Aljazira Capital Profit Estimates (SAR mln) |
||
|
Company |
Q3 forecast |
YoY change |
|
Banks |
||
|
Al Rajhi Bank |
2,243.1 |
+12% |
|
Bank Alinma |
500.6 |
+61% |
|
Bank Albilad |
242.2 |
+6% |
|
Telecom |
||
|
STC |
2,318.1 |
+8% |
|
Mobily |
(188.6) |
(12%) |
|
Zain |
32.3 |
-- |
|
Retail |
||
|
Jarir |
237.5 |
+8% |
|
Al Hokair* |
50.6 |
(14%) |
|
SACO |
22.6 |
+11% |
|
Materials |
||
|
SABIC |
4,149.8 |
(21%) |
|
Tasnee |
131.4 |
+8% |
|
Yansab |
597.3 |
(2%) |
|
SAFCO |
166.6 |
(8%) |
|
SIPCHEM |
90.5 |
-- |
|
Advanced |
193.0 |
+2% |
|
Kayan |
28.5 |
(82%) |
|
Sahara Petrochemicals |
110.4 |
+5% |
|
Petrochem |
189.5 |
(1%) |
|
Maaden |
304.0 |
+264% |
|
Yamama Cement |
10.1 |
(82%) |
|
Saudi Cement |
80.3 |
(60%) |
|
Southern Cement |
77.2 |
(55%) |
|
Qassim Cement |
40.4 |
(43%) |
|
Arabian Cement |
29.4 |
(70%) |
|
Yanbu Cement |
57.2 |
(39%) |
|
City Cement |
8.6 |
(73%) |
|
Eastern Cement |
27.9 |
(35%) |
|
Healthcare |
||
|
Al Hammadi |
27.5 |
+28% |
|
Mouwasat |
68.1 |
+35% |
|
Care |
18.0 |
(39%) |
|
Dallah |
60.9 |
-- |
|
Consumer Services |
||
|
Al Tayyar |
163.5 |
(13%) |
|
Al Hokair Group |
24.2 |
+59% |
|
Food & Beverages |
||
|
Al Marai Co. |
593.6 |
(9%) |
|
Halwani Bros |
14.5 |
(36%) |
|
Al-Jouf Agri |
19.6 |
(42%) |
|
Other Sectors |
||
|
Budget |
41.6 |
(4%) |
|
Catering |
141.2 |
(6%) |
|
Al Khaleej |
12.8 |
(38%) |
|
Al Othaim** |
45.0 |
+23% |
* Q2 ended Sept. 30, 2017.
**Doesn’t include SAR 97.4 mln capital gain from sale of assets.
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