NCB Cap issues Q3 estimates, SABIC seen to edge up 1%

NCB Capital (NCBC) has issued its third-quarter profit estimates for Tadawul-listed companies under its coverage.

Major petrochemical producer, Saudi Basic Industries Corp. (SABIC) is expected to post a 1 percent year-on-year (YoY) profit rise to SAR 5.85 billion.

Al Rajhi Bank is forecast to see a 19 percent YoY profit increase to SAR 2.7 billion.

Saudi Telecom Co.’s (STC) earnings are anticipated to drop 11 percent YoY to SAR 2.32 billion.

For cement producers, Arabian Cement and Al-Yamamah Cement are expected to post a net loss of SAR 19 million and SAR 22 million, respectively.

Meanwhile, Eastern Province Cement’s net profit is seen to jump 29 percent YoY in Q3 to SAR 18 million.

Home appliance retailer eXtra is projected to post a 13 percent YoY decline in Q3 net profit.

Saudi German Hospital will likely see its profit plunge by 44 percent YoY for the quarter to SAR 33.5 million. 

Elsewhere, state-run Saudi Electricity Co. is likely to post a 6 percent YoY decline in Q3 net profit to SAR 4.9 billion.

The following table shows NCB Capital’s Q3 estimates for firms under coverage: