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KASB Capital issues Q3 earnings forecasts for Saudi companies
KASB Capital has issued earnings forecasts for Saudi companies and banks for the third quarter of 2016, which comes to an end this month.
Al Rajhi Bank, Saudi Arabia's second-largest lender by assets, is projected to post a 13 percent rise year-on-year in Q3 profit to SAR 1.93 billion.
Taking a hit from low oil prices, petrochemical giant Saudi Basic Industries Corporation (SABIC) is expected to see a 19 percent YoY drop in earnings at SAR 4.55 billion in Q3.
Saudi Arabian Fertilizer Company (SAFCO) is forecast to post a 53 percent slump in Q3 to SAR 264.7 million.
Saudi Telecom Company (STC), the country’s largest telco, is expected to post SAR 2.22 billion earnings for the period, falling by 4 percent YoY.
|
KASB Capital Q3 Forecasts (SAR mln) |
||
|
Company |
Q3-2016 estimates |
YoY change |
|
Al Rajhi Bank |
1,935.8 |
+13% |
|
Alinma |
425.8 |
+14% |
|
Albilad |
188.6 |
(7%) |
|
Aljazira |
167.4 |
+1% |
|
Sabic |
4,547.0 |
(19%) |
|
Yansab |
619.6 |
+105% |
|
Safco |
264.7 |
(53%) |
|
Advanced |
190.6 |
(19%) |
|
STC |
2,224.4 |
(4%) |
|
Saudi Cement |
189.8 |
(9%) |
|
Northern Cement |
37.3 |
(29%) |
|
Yanbu Cement |
118.1 |
(18%) |
|
Eastern Cement |
49.1 |
(26%) |
|
City Cement |
50.2 |
+6% |
|
Southern Cement |
216.2 |
+7% |
|
Najran Cement |
22.0 |
(32%) |
|
Yamama Cement |
84.1 |
(12%) |
|
Aljouf Cement |
16.9 |
(9%) |
|
Arabian Cement |
108.8 |
+22% |
|
Hail Cement |
18.6 |
+6% |
|
Tabuk Cement |
13.6 |
+48% |
|
Qassim Cement |
103.0 |
(11%) |
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