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KASB Capital issues Q3 estimates; Saudi Telecom profit to rise 13%
KASB Capital on Tuesday issued its Q3 2017 earnings forecasts for Saudi-listed companies under its coverage.
Net profit of petrochemical giant Saudi Basic Industries Corporation (SABIC) is expected to fall by 13 percent year-on-year (YoY) to SAR 4.55 billion.
Advanced Petrochemical Co. reported a net income of SAR 208 million, higher than the brokerage firm’s estimate of SAR 197 million.
Al Rajhi Bank is likely to post a net profit of SAR 2.21 billion, a 10 percent increase YoY in the same period.
In the telecom sector, Saudi Telecom Co.’s Q3 earnings are forecast to increase 13 percent YoY to SAR 2.43 billion.
Expectations are negative for cement producers under coverage, with Saudi Cement projected to record the biggest profit fall of 55 percent YoY, followed by Southern Province Cement (down 47 percent YoY).
|
KASB Capital Q3 2017 Profit Estimates (SAR mln) |
||
|
Company |
Q3 2017 estimates |
YoY Variation |
|
SABIC |
4,557.4 |
(13%) |
|
Yansab |
567.8 |
(7%) |
|
SAFCO |
185.8 |
+2% |
|
Saudi Cement |
90.1 |
(55%) |
|
Yanbu Cement |
74.6 |
(20%) |
|
Southern Cement |
91.8 |
(47%) |
|
Yamama Cement |
26.5 |
(53%) |
|
Qassim Cement |
56.3 |
(20%) |
|
Al Rajhi Bank |
2,205.8 |
+10% |
|
Alinma Bank |
506.6 |
+63% |
|
Bank Albilad |
242.5 |
+6% |
|
Aljazira Bank |
233.2 |
+45% |
|
STC |
2,427.2 |
+13% |
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