Saudi Q4 earnings outlook for equities, petrochem, banks and F&B | ZAWYA MENA Edition:
Financial earnings of Saudi Arabia’s listed companies are expected to be mixed with large cap stocks expected to lead the profit decline.
“We expect consumer staples, healthcare, and education sectors to be the most profitable sectors in 2019. Energy stocks are expected to post growth in profits in 2019. The financial sector is also expected to post profits in 2019, with some variance in performance between institutions,” Iyad Abu Hweij, Managing Partner, at the Abu Dhabi-based Allied Investment Partners PJSC, told Zawya on email.
The stock market is heavily skewed towards the energy and banking sectors, with Saudi Basic Industries Corporation (SABIC), Saudi Telecom and Al Rajhi Bank dominating.
Below are a few estimates by three top Saudi brokerages, Al Rajhi Capital, Riyad Capital and NCB Capital.
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