Riyadh - Mubasher: Al Ahli Capital expected SAR 20.72 billion ($5.52 billion) profits in the second quarter of 2016 for 41 Saudi-listed companies.
The investment company projected that Al Rajhi Bank, Banque Saudi Fransi (BSF) and Al Bilad Bank’s profits will rise in Q2-16, while those of Saudi British Bank (SABB), Samba Financial Group and five other banks will decline.
Regarding the petrochemicals sector, Saudi Basic Industries Corporation’s (SABIC) profit is likely to fall 40.6% to SAR 3.67 billion, while Yanbu National Petrochemicals Co. is to hike 100% to SAR 455 million, the report said
Advanced Petrochemical’s profit is expected to level down 23% to SAR 187 million in Q2-16.
The report expected a decline for 6 companies in the cement sector with percentages range between 32.7% to 0.7%, compared to Q2-15.
Saudi Telecom Company’s (STC) profits are also likely to decrease 2% to SAR 2.5 billion, while those of Saudi Electricity Company (SEC) would rise 19.4% to reach SAR 2.35 billion.
