Riyadh-Mubasher: KSB Capital expected 39 Tadawul-listed companies to record total earnings of SAR 11.5 billion in the first quarter of 2016, falling 13.3% (SAR 1.77 billion) compared with SAR 13.29 billion in the same period a year ago.
SABIC’s Q1 earnings are seen falling by 32% (SAR 1.26 billion), followed by Saudi Telecom whose profits are expected to decline by 16.5% (SAR 412 million). In addition, Safco’s net income would decrease 45.8% (SAR 270 million).
Meanwhile, Al Rajhi’s first-quarter profits will likely rise by 21% (SAR 318.3 million), followed by Bank AlJazira whose earnings would grow by 91.3% (SAR 207.3 million). Bahri and Alinma Bank’s profits are also seen increasing by 17.2% (SAR 68.4 million) and 14.8% (SAR 50.9 million), respectively.
