SABIC to see 57% profit drop in Q1, says Osool & Bakheet

24/03/2015 Argaam

Osool & Bakheet Investment Group revealed first quarter profit forecasts for a number of Tadawul-listed banks and companies, including Saudi Basic Industries Corp. (SABIC), Advanced Petrochemical, and National Commercial Bank (NCB).

Petrochemicals giant SABIC is likely to report SAR 2.78 billion in earnings during the first quarter, a 57 percent year-on-year drop, the group added. Advanced Petrochemical is the biggest drag, with a projected 87 percent drop compared to the same period during the previous year.

Al Rajhi Bank is anticipated to post a 3 percent rise in Q1 profit, while NCB profit is expected to drop 2 percent (YoY).

 

Osool & Bakheet Q1-2015 Estimates

Consensus Estimates

YoY

change

Q1-2014 estimates

Company

Consensus

+11%

1193.9

Riyad Bank

Consensus

(14%)

136.8

Bank Al-Jazira

Consensus

+2%

342.5

Saudi Investment Bank

Consensus

(7%)

796.1

Banque Saudi Fransi

Consensus

(2%)

1057.2

SABB

Consensus

+10%

1360.7

SAMBA

Consensus

+3%

1753.0

Al Rajhi Bank

Consensus

+7%

184.9

Albilad Bank

Consensus

+15%

335.8

Alinma Bank

Consensus

(2%)

2497.4

NCB

Consensus

(57%)

2781.2

Sabic

Consensus

(13%)

730.0

Safco

Consensus

(10%)

288.2

Tasnee

Consensus

(27%)

73.0

Sahara

Consensus

(56%)

242.5

Yansab

Consensus

(87%)

17.3

Advanced Petrochemical

Consensus

+7%

37.6

Hail Cement

Consensus

+71%

92.0

Najran Cement

Consensus

+14%

190.4

Arabian Cement

Consensus

+11%

72.5

City Cement

Consensus

+1%

175.8

Yamama Cement

Consensus

+3%

163.3

Qassim Cement

Consensus

+33%

294.3

Southern Province Cement

Consensus

+25%

256.1

Yanbu Cement

Consensus

(2%)

43.2

Tabuk Cement

Consensus

+4%

296.6

Saudi Cement

Consensus

+4%

441.0

Savola

Consensus

+10%

301.5

Almarai

Consensus

(2%)

23.1

Halwani

Consensus

+10%

53.0

Herfy

Consensus

+13%

183.1

Airlines Catering

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