Aljazira Capital issues Q3 2020 profit forecasts for Saudi banks, firms

05/10/2020 Argaam Special


Aljazira Capital published its Q3 2020 earnings forecasts for a number of Tadawul-listed banks and firms under its coverage, which were led by Al Rajhi Bank, SABIC, and STC.

 

Saudi Basic Industries Corporation (SABIC) is expected to post net profit of SAR 606 million in Q3 2020, while Al Rajhi Bank’s earnings are projected to drop 13% year-on-year (YoY) to SAR 2.47 billion.

 

Below is a list of Aljazira Capital’s estimates for Q3 2020 earnings of a numer of banks and firms under its coverage:

 

Aljazira Capital’s Q3 Forecasts (SAR mln)

Company

Q3 2020 Estimates (SAR mln)

YoY Variation

Banking Sector

Al Rajhi Bank

2472.7

(13%)

Alinma Bank

587.2

(18%)

Bank Albilad

322.6

(1%)

Telecommunication Sector

STC

2768.7

+1%

Mobily

187.6

+267%

Zain KSA

45.5

(62%)

Materials Sector

SABIC

605.9

(27%)

Tasnee

59.4

+44%

Yansab

165.6

(22%)

SAFCO

389.8

(6%)

Sipchem

64.5

(42%)

Advanced

173.9

(18%)

Kayan

(226.4)

--

Petrochem

154.5

(10%)

Ma’aden

(251.2)

(173%)

Yamama Cement

79.5

+45%

Saudi Cement

101.5

+22%

Southern Province Cement

151.5

+68%

Qassim Cement

119.5

+32%

Arabian Cement

56.0

(8%)

Yanbu Cement

83.8

+35%

City Cement

54.9

+9%

Eastern Province Cement

47.1

+31%

Healthcare Sector

Al Hammadi

26.9

+27%

Mouwasat

105.1

+13%

Care

20.6

+24%

Dallah

23.8

(11%)

SGH

36.9

+11%

Retail

Jarir

341.3

+12%

Alhokair*

42.8

+26%

SACO

9.9

(32%)

          Consumer Services Sector

Seera Holding

(91.6)

--

Other Sectors

Budget Saudi

32.0

(29%)

Catering

(48.2)

--

SGS

10.7

(91%)

Al-Othaim

97.8

+30%

* FY ends in March 2021  

 

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