33 listed companies to gain SR25bln in 1Q – Osool & Bakheet expects

Osool & Bakheet Investment Company expected that 33 listed companies on the Saudi market will gain SR 25.2 billion in the first quarter of 2022, with an increase of 24.5% compared to SR 20.3 billion during the same period of 2021.

The company added that SABIC’s profits will rise 17.2% to SR 5.7 billion compared to SR 4.86 billion in 1Q 2021.

Osool & Bakheet also estimated that Saudi listed banks will profit SR 14.1 billion by the end of the first quarter of 2022, a gain of 17.5% from SR 12 billion during the same period in the previous year.

Moreover, the twelve listed cement companies will decline in addition to the decrease of 19 other companies’ profits in the 1Q led by Hail Cement whose profits is expected to fall 75.7% to SR 6.3 million from SR 25.9 million.