Sabic to post 31% profit drop in Q2: Albilad Capital

02/07/2015 Argaam

Saudi Basic Industries Corporation (SABIC), the kingdom’s largest petrochemical producer, is likely to report a 31 percent profit drop year-on-year in upcoming second quarter results to SAR 4.45 billion, Albilad Capital said in its latest report.

 

The firm issued forecasts for a number of Tadawul-listed companies and banks, including Al Rajhi bank and STC.

 

Al Rajhi bank is expected to post a net profit of SAR 1.72 billion in second quarter, a decline of 12 percent (YoY), Albilad Capital added.

 

Saudi Telecom Company (STC), however, is seen to report a profit increase of two percent to SAR 2.85 billion.

 

Albilad Capital Estimates – Q2-2015 (SAR mln)

YoY change

Q2-2015 estimations

Company

--

822

Aljazira

(12%)

1,724

Al Rajhi

+19%

365

Alinma

(31%)

4,452

Sabic

(7%)

596

Safco

(54%)

284

Yansab

(11%)

184

Yamama Cement

(8%)

266

Saudi Cement

+2%

245

Yanbu Cement

+9%

56

Al Othaim

(2%)

58

Al Mouwasat

(26%)

40

eXtra

+34%

45

Dallah

+7%

31

Farm Superstores

+20%

162

Jarir

(6%)

528

Savola

+12%

485

Marai

+5%

173

Catering

+15%

32

Nadec

+2%

2,850

STC

(23%)

(254)

Zain

(39%)

300

Maaden

--

350

Bahri

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