Riyadh – Mubasher: KASB Capital announced its estimates for the profits of 22 Saudi-listed companies for the third quarter of 2016.
Total profits of the 22 firms would rise 0.52% to reach SAR 12.66 billion ($3.38 billion), compared to SAR 12.6 billion ($3.36 billion) in Q3-15, the company said.
SABIC’s profits are likely to decline 19% to SAR 4.55 billion in Q3-16, compared to SAR 5.6 billion in Q3-15.
Al Rajhi Bank’s profits were expected to rise 12.5% year-on year to SAR 1.94 billion in Q3-16 from SAR 1.72 billion.
KASB Capital estimated that Saudi Telecom Company’s (STC) profits would retreat 4.2% to SAR 2.2 billion in Q3-16, compared to SAR 2.32 billion in the same period of the previous year.
