United Securities previews Q4 2023 earnings for Saudi firms

07/01/2024 Argaam Special

United Securities previews Q4 2023 earnings for Saudi firms

Tadawul trading screen


United Securities issued its Q4 2023 forecasts for some Tadawul-listed companies under its coverage, topped by Saudi Cement Co. and Arabian Internet and Communications Services Co. (solutions).

 

Saudi Cement’s fourth-quarter profit is expected to drop 38% year-on-year (YoY) to SAR 96 million. The net earnings of solutions are projected to jump 14% YoY to nearly SAR 224 million.

 

More details are shown in the table below:

 

United Secuirities’ Q4 2023 Profit Forecasts for Saudi Firms

Company

Q4 2023 Forecasts

YoY Change

Cement

Saudi Cement

96

(38%)

Yamama Cement

60

(55%)

Southern Cement

39

(37%)

Yanbu Cement

24

(59%)

Najran Cement

16

(68%)

Riyadh Cement*

90

+9%

Arabian Cement

36

+3%

Eastern Cement

35

(34%)

City Cement

15

(69%)

Software & Services

MIS

27

(45%)

solutions

224

+14%

Fuel Retail

Aldrees

61

(15%)

Food Retail

Americana**

379

+59%

Jahez*

44

(17%)

Pharmaceutical

Jamjoom Pharma

54

+70%

SPIMACO

)9(

--

Astra

89

+4%

Transportation

Lumi

41

+0.3%

Budget Saudi

61

(6%)

Theeb

35

(35%)

Other Sectors

Saudi German Health

30

(10%)

CATRION

100

(7%)

ADES

89

(59%)

*Expectations for H2 2023 vs. H2 2022.

**Converted from $ to SAR.

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