Riyadh – Mubasher: Osool and Bakheet Investment Co expected that the profits of 40 Saudi-listed firms will grow 3.84% in the first quarter of 2017.
The companies are forecast to record net earnings of SAR 17 billion in Q1 compared to SAR 16.4 billion in the year-ago period, according to a report.
SABIC’s profits would hike 51% to SAR 5.15 billion year-on-year in Q1-17 from SAR 3.4 billion, the investment firm said.
Saudi Telecom Co’s (STC) profits are likely to fall 9.5% to SAR 2.15 billion in Q1-17 from SAR 2.38 billion in the same period of the previous year.
Al Rajhi Bank’s profits are seen to post SAR 2.01 billion, with a marginal decrease of 0.1% from SAR 2.02 billion, according to Osool and Bakheet.
