Osool & Bakheet Investment Company issued a report on Tuesday in which it made expectations for earnings of 46 Tadawul-listed companies for the fourth quarter of 2014.
These companies comprise the following: 9 in banks sector, 7 in petrochemical industries, 10 in cement, 8 in retail, 4 in agriculture and food industries, 1 in insurance, 1 in industrial investment, 3 in construction, 2 in transportations.
An overview for the report shows that Osool & Bakheet forecasted profit rise for eight banks by 179.3% (for Banque Saudi Fransi) and 3.1% for (SABB). It expects Riyad Bank to post a profit decline by 0.5%.
In the petrochemical sector, SABIC earnings are projected to rise by 10% y/y and 10.7% q/q, while Safco’s earnings are expected to jump by 11.6% y/y.
Earnings of eight cement companies are forecasted to rise by 242.5% (for City Cement) and 1.5% (for Southern Cement). Yamama Cement and Tabuk Cement are forecasted to post a profit decline by 0.7% and 5.9% respectively.
Under the retail sector, eXtra and Al Mowasat earnings are expected to drop by 61.1% and 2% in a row. Meanwhile, earnings of these six other companies were projected to rise by 28.9% (for Al-Khaleej Training) and 2.6% (for Fawaz Alhokair).
In agricultural sector, Osool & Bakheet expects profit rise y/y for Savola by 13.2%, Almarai (+15.2%), Halwani Bros (+7%) and Herfy (+12.7%).