Saudi cement firms’ Q2 profit misses estimates by 29%
The aggregate net profit of Saudi cement producers, amounting to SAR 440.5 million in Q2 2017, fell 29 percent short of average estimates of SAR 620.2 million, data compiled by Argaam showed.
Yamama Cement Co. reported the biggest miss of 77 percent, after posting a net profit of SAR 12.2 million in Q2.
Tabuk Cement’s net earnings also fell shy of forecasts by 68 percent, reporting a net profit of SAR 1.3 million.
Hail Cement’ net profit missed estimates by 65 percent.
On the positive side, Jouf Cement’s net profit beat estimates by 32 percent, reporting a net income of SAR 10.5 million in the same period, compared to analysts’ forecasts of SAR 8 million.
Southern Province Cement also topped estimates by 1 percent, with a Q2 net profit of SAR 94.9 million.
Company Estimates Comparisons
Company | 2017 - Q2 (a) | 2017 - Q2 (e) | Change |
SAUDI CEMENT | 93.95 | 137.95 | (31.9 %) |
YC | 12.17 | 53.30 | (77.2 %) |
QACCO | 53.20 | 65.76 | (19.1 %) |
YCC | 80.48 | 92.87 | (13.3 %) |
SPCC | 94.94 | 94.44 | 0.5 % |
ACC | 35.52 | 71.10 | (50.0 %) |
EPCCO | 35.11 | 41.43 | (15.2 %) |
CITY CEMENT | 12.36 | 29.90 | (58.7 %) |
TCC | 1.29 | 4.00 | (67.8 %) |
HCC | 2.66 | 7.50 | (64.5 %) |
JOUF CEMENT | 10.52 | 8.00 | 31.6 % |
NORTHERN CEMENT | 8.26 | 14.00 | (41.0 %) |
Total | 440.47 | 620.23 | (29.0 %) |
Actual Profit versus Estimates
Company | 2017 - Q2 (a) | 2017 - Q2 (e) | Most Accurate Research Company |
SAUDI CEMENT | 93.95 | 108.00 | Sico |
YC | 12.17 | 41.80 | Value Capital |
QACCO | 53.20 | 55.00 | Sico |
YCC | 80.48 | 86.00 | Hermes |
SPCC | 94.94 | 96.00 | Riyad Capital |
ACC | 35.52 | 56.00 | Sico |
EPCCO | 35.11 | 35.00 | Hermes |
CITY CEMENT | 12.36 | 29.00 | Hermes |
TCC | 1.29 | 4.00 | Hermes |
HCC | 2.66 | 7.50 | OSOOL AND BAKHEET |
JOUF CEMENT | 10.52 | 8.00 | Hermes |
NORTHERN CEMENT | 8.26 | 14.00 | Hermes |
Most Read
- Aramco plans gradual dividend growth, regular debt issuance: Official
- Non-institutional foreign ownership ex-Aramco up to 9.38% last week
- Jadwa Investment Signs Agreements Worth SAR 9 Billion in Real Estate Projects at Cityscape Global
- Jabal Omar sells land plot for SAR 1.1B, gains SAR 818.2M
- Maaden issues circular on capital hike to acquire Mosaic stake in Wa'ad Al Shamal
MarketIndices
TASI | 11,840.52 | (27.40) | (0.23 %) |
Company Indices
ACC | 26.05 | (0.10) | (0.38%) |
EPCCO | 33.65 | 0.15 | 0.44% |
QACCO | 53.70 | (0.80) | (1.47%) |
SAUDI CEMENT | 41.00 | (0.55) | (1.33%) |
SPCC | 33.20 | (0.35) | (1.04%) |
TCC | 12.40 | (0.32) | (2.53%) |
YC | 31.40 | (0.35) | (1.11%) |
YCC | 23.40 | (0.24) | (1.02%) |
HCC | 11.62 | 0.02 | 0.17% |
JOUF CEMENT | 10.20 | (0.02) | (0.20%) |
NORTHERN CEMENT | 8.95 | 0.00 | 0.00% |
NAJRAN CEMENT | 9.24 | (0.06) | (0.65%) |
CITY CEMENT | 17.64 | 0.04 | 0.23% |
UACC | 17.80 | 0.18 | 1.02% |
RIYADH CEMENT | 32.45 | (0.25) | (0.77%) |
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}