Riyadh – Mubasher: AlJazira Capital announced its estimates for the profits of 23 Saudi-listed companies for the fourth quarter of 2016.
The companies are expected to achieve SAR 6.4 billion ($1.7 billion) profits in Q4 compared to SAR 5.98 billion ($1.6 billion) in the year-ago period, with a 4.3% decrease.
Al Rajhi Bank is expected to post 3.8% higher profits of SAR 2.02 billion in Q4-16 compared to SAR 1.95 billion in Q4-15.
The Saudi Telecom Company (STC) is likely to achieve a 6.6% growth in profits in Q4-16 to SAR 2.08 billion, compared to SAR 1.95 billion in Q4-15, according to AlJazira Capital.
AlJazira Capital expected that Etihad Etisalat's (Mobily) profits to surge 63% year-on-year to SAR 17.2 billion in Q4-16 compared to SAR 10.6 billion.
The research firm estimated great enhancement for the petrochemical sector's companies in the fourth quarter of 2016 and expected a 60.8% hike in SABIC's profits to reach SAR 4.944 billion.
