Saudi cement firms Q2 profit seen to drop 52%
Saudi cement companies are expected to post a combined net profit of SAR 620.2 million, down 51.7 percent year-on-year (YoY) in Q2 2017, data compiled by Argaam showed.
Tabuk Cement is seen making the biggest profit slump of 81 percent YoY to SAR 4 million.
Hail Cement is forecasted to report a profit decline of 72.9 percent YoY to SAR 7.50 million.
Northern Province Cement is also projected to post a 71.2 percent plunge in profit YoY to SAR 14 million.
Company | No. of Analysts | 2016 - Q2 (a) | 2017 - Q2 (e) | Difference |
SAUDI CEMENT | 10 | 249.46 | 137.95 | (44.7 %) |
YSCC | 10 | 116.29 | 53.30 | (54.2 %) |
QACCO | 9 | 113.90 | 65.76 | (42.3 %) |
YCC | 9 | 159.23 | 92.87 | (41.7 %) |
SPCC | 8 | 267.98 | 94.44 | (64.8 %) |
ACC | 6 | 141.00 | 71.10 | (49.6 %) |
EPCCO | 4 | 47.33 | 41.43 | (12.5 %) |
CITY CEMENT | 2 | 64.16 | 29.90 | (53.4 %) |
TCC | 1 | 21.08 | 4.00 | (81.0 %) |
HCC | 1 | 26.84 | 7.50 | (72.1 %) |
JOUF CEMENT | 1 | 22.74 | 8.00 | (64.8 %) |
NORTHERN CEMENT | 1 | 48.66 | 14.00 | (71.2 %) |
Total | 10 | 1,278.66 | 620.23 | (51.5 %) |
EFG-Hermes has issued forecasts for 11 cement producers, while Albilad Capital issued estimates for three companies.
Estimates per Analyst
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Market Index
TASI | 12,174.76 | (28.17) | (0.23 %) |
Stock Prices
ACC | 28.40 | (0.10) | (0.35%) |
EPCCO | 33.20 | 0.15 | 0.45% |
QACCO | 56.30 | 0.50 | 0.89% |
SAUDI CEMENT | 43.65 | (0.25) | (0.57%) |
SPCC | 36.50 | (0.40) | (1.08%) |
TCC | 12.28 | 0.08 | 0.66% |
YSCC | 35.05 | 0.10 | 0.29% |
YCC | 27.55 | 0.50 | 1.82% |
HCC | 11.62 | 0.02 | 0.17% |
JOUF CEMENT | 10.96 | 0.28 | 2.62% |
NORTHERN CEMENT | 9.07 | (0.02) | (0.22%) |
NAJRAN CEMENT | 8.90 | (0.05) | (0.56%) |
CITY CEMENT | 19.90 | 0.16 | 0.81% |
UACC | 16.78 | 0.16 | 0.96% |
RIYADH CEMENT | 24.92 | 0.10 | 0.40% |
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