Riyadh – Mubasher: Saudi Arabia-based KASB Capital expects Saudi Basic Industries Corp’s (SABIC) profits will jump 19.1% to SAR 5.327 billion in the fourth quarter of 2017.
Meanwhile, it projected that Yanbu National Petrochemicals’ (Yansab) profits will rise by 12% to SAR 675 million.
The research firm also projected a 32.6% profit growth for Al Inma Bank to around SAR 517.4 million, while Alrajhi bank’s will rise 13.7% to SAR 2.326 billion.
The research firm forecast that seven other Saudi-listed firms’ profits will increase in Q4-17.
Saudi cement companies are expected to post profit falls in Q4-17, KASB said, indicating that its profit guidance for Saudi Cement is SAR 101 million, down 45.9% from a year ago, while Yanbu Cement’s profits will decline 35.8% to SAR 64 million and Yamama Cement’s will fall 29.5% to SAR 30.5 million.
Meanwhile, Saudi Telecom Company’s (STC) profits are forecast to grow 14.4% year-on-year to SAR 2.45 billion in the final quarter of 2017.
On the other hand, KASB expected Saudi Arabian Fertilizer Co (SAFCO) and Advanced Petrochemical Company profits will decline 3.9% and 0.2% to SAR 273.3 million and SAR 209.7 million, respectively.
