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  • 07-07-22

    Saudi-listed firms set to witness mixed incomes in Q2

    (MENAFN) Saudi-listed firms are anticipated to see varied incomes in the April-June period of this year, after increasing oil costs, approaching financial stoppage dangers, and interest rate surges, in line with Al-Rajhi Capital.

    The Riyadh-based economic service company which has studied the presentation of all industrial areas apart from the Kingdom’s oil giant Aramco to record SR164.8 billion (USD44 billion) in income in the April-June period of this year, 81 percent higher compared to a year before.

    It estimates the chemical giant Saudi Basic Industries Corp.’s income to marginally fall by 1 percent to SR7.6 billion (nearly USD2 billion).

    The report also stated that except for SABIC, petrochemical firms are going to witness weight on gains, weighed down by higher feedstock prices after steady polymer costs.

    In the healthcare area, Al Rajhi Capital estimates leaps in performance for two main players on developed volume utilization, as Dallah Health and Sulaiman Al Habib are anticipated to see an income rise of 50 percent and 10 percent individually.

    MENAFN07072022000045014228ID1104492198

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