Riyadh – Mubasher: KASB Capital announced its estimates for the profits of 14 Saudi-listed companies for the fourth quarter of 2016.
Total profits of the 14 firms would grow 17.5% to reach SAR 11.33 billion ($3.02 billion), compared to SAR 9.64 billion ($2.57 billion) in Q4-15, the company said.
The company noted that the expected profits fell 2.2% compared to the profits of SAR 11.68 billion achieved in the previous quarter.
SABIC’s profits are likely to hike 45.5% to SAR 4.45 billion in Q4-16, compared to SAR 3.06 billion in Q4-15.
Al Rajhi Bank’s profits were expected to rise 11.5% year-on year to SAR 2.17 billion in Q4-16 from SAR 1.95 billion.
KASB Capital estimated that Saudi Telecom Company’s (STC) profits would rise 7.2% to SAR 2.09 billion in Q4-16, compared to SAR 1.95 billion in the same period of the previous year.
