Saudi cement firms’ profit expected to fall 39% in Q4

The aggregate net profit of Tadawul-listed cement producers is forecast to drop 39 percent year-on-year (YoY), but jump 35 percent on a quarterly basis to SAR 444.5 million in Q4 2017, average research estimates  compiled by Argaam showed.

Southern Province Cement is seen to report the biggest profit plunge of 56 percent YoY in the fourth quarter.

City Cement Co. came second with a 45 percent YoY drop. It was followed by Saudi Cement and Yanbu Cement, which are projected to see their net profit lower by 44 percent and 43 percent YoY, respectively.

The outlook was only positive for Umm Al-Qura Cement’s net earnings which are likely to increase four times YoY and Arabian Cement’s profit which is expected to jump 62 percent YoY.

When compared to the previous quarter, all firms are likely to post stronger profit. 

The data includes average forecasts issued by Osool & Bakheet Investment, Aljzira Capital, and Albilad Capital.