Tadawul trading screen
United Securities issued its Q4 2023 forecasts for some Tadawul-listed companies under its coverage, topped by Saudi Cement Co. and Arabian Internet and Communications Services Co. (solutions).
Saudi Cement’s fourth-quarter profit is expected to drop 38% year-on-year (YoY) to SAR 96 million. The net earnings of solutions are projected to jump 14% YoY to nearly SAR 224 million.
More details are shown in the table below:
United Secuirities’ Q4 2023 Profit Forecasts for Saudi Firms
Company
Q4 2023 Forecasts
YoY Change
Cement
Saudi Cement
96
(38%)
Yamama Cement
60
(55%)
Southern Cement
39
(37%)
Yanbu Cement
24
(59%)
Najran Cement
16
(68%)
Riyadh Cement*
90
+9%
Arabian Cement
36
+3%
Eastern Cement
35
(34%)
City Cement
15
(69%)
Software & Services
MIS
27
(45%)
solutions
224
+14%
Fuel Retail
Aldrees
61
(15%)
Food Retail
Americana**
379
+59%
Jahez*
44
(17%)
Pharmaceutical
Jamjoom Pharma
54
+70%
SPIMACO
)9(
—
Astra
89
+4%
Transportation
Lumi
41
+0.3%
Budget Saudi
61
(6%)
Theeb
35
(35%)
Other Sectors
Saudi German Health
30
(10%)
CATRION
100
(7%)
ADES
89
(59%)
*Expectations for H2 2023 vs. H2 2022.
**Converted from $ to SAR.
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