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Saudi retailers’ Q2 profit beats estimates by 3%
17/08/2017
Argaam Exclusive
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The aggregate net profit of Tadawul-listed retailers amounted to SAR 584.1 million in Q2 2017, 2.7 percent ahead of the average market forecasts of SAR 568.5 million, according to data compiled by Argaam.
Al Khaleej Training and Education was top performer, exceeding average estimates by more than double, making a net profit of SAR 10.35 million, compared to the estimated SAR 2.75 million.
Company Estimates Comparisons
| Company | 2017 - Q2 (a) | 2017 - Q2 (e) | Change |
| JARIR | 147.76 | 153.95 | (4.0 %) |
| A.OTHAIM MARKET | 71.21 | 62.65 | 13.7 % |
| EXTRA | 43.37 | 19.60 | 121.3 % |
| CENOMI RETAIL | 6.84 | 67.28 | (89.8 %) |
| FARM SUPERSTORES | 20.35 | 25.77 | (21.0 %) |
| ALDREES | 18.26 | 23.15 | (21.1 %) |
| ALKHALEEJ TRNG | 10.35 | 2.75 | 276.2 % |
| SACO | 40.36 | 38.40 | 5.1 % |
| Total | 358.49 | 393.54 | (8.9 %) |
United Electronics Co.’s (eXtra), the home appliance retailer, turned to a net profit of SAR 43.4 million, exceeding estimates of SAR 19.60 million.
Abdullah Al Othaim Markets’ net profit was 13.7 percent higher than expectations.
Actual Profit versus Estimates
| Company | 2017 - Q2 (a) | 2017 - Q2 (e) | Most Accurate Research Company |
| JARIR | 147.76 | 152.00 | SNB Capital |
| A.OTHAIM MARKET | 71.21 | 66.00 | SNB Capital |
| EXTRA | 43.37 | 22.00 | Al Rajhi Capital |
| CENOMI RETAIL | 6.84 | 41.00 | Al Rajhi Capital |
| FARM SUPERSTORES | 20.35 | 24.00 | Albilad Capital |
| ALDREES | 18.26 | 21.00 | Hermes |
| ALKHALEEJ TRNG | 10.35 | 5.00 | HSBC |
| SACO | 40.36 | 38.80 | AlJazira Capital |
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MarketIndices
| TASI | 11,882.65 | (142.40) | (1.18 %) |
Company Indices
| JARIR | 12.98 | 0.02 | 0.15% |
| ALDREES | 138.60 | (0.40) | (0.29%) |
| A.OTHAIM MARKET | 9.70 | (0.12) | (1.23%) |
| CENOMI RETAIL | 12.32 | 0.28 | 2.30% |
| ALKHALEEJ TRNG | 29.60 | 0.45 | 1.52% |
| EXTRA | 93.20 | (1.10) | (1.17%) |
| FARM SUPERSTORES | 20.90 | (0.20) | (0.94%) |
| SACO | 31.05 | (1.05) | (3.28%) |
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