Albilad Capital issues Q1 forecasts; SABIC to rise 8%

Albilad Capital has issued earnings estimates for Q1 2018.

Saudi Basic Industries Corporation (SABIC) is expected to post an 8 percent year-on-year (YoY) rise in net profit to SAR 5.68 billion in the first quarter.

Yanbu National Petrochemical Co. (Yansab) is seen to post the biggest earnings increase among petrochemical producers under Albilad Capital’s coverage, with net profit climbing 14 percent to SAR 691 million.

In the banking sector, Al Rajhi Bank is forecast to report a profit of SAR 2.49 billion in Q1, rising 12 percent YoY.

Alinma Bank, meanwhile, is expected to see earnings surge 43 percent YoY to SAR 602 million.

Elsewhere, Saudi Telecom Co. (STC) is seen reporting a net profit of SAR 2.5 billion in Q1 2018, down 1 percent YoY.

Meanwhile, all cement companies under coverage are projected to report lower profit, with Yamama Cement’s earnings falling 33 percent YoY to SAR 34 million.