Saudi Telecom, Kingdom, Samba, Mobily: Saudi Equity Preview

The following stocks may be active in Saudi Arabia’s market. Stock symbols are in parentheses and prices are from the last close.

The Tadawul All Share Index (SASEIDX) rose 0.1 percent to 6,377.99 on Jan. 18.

Al-Babtain Power & Telecommunication Co. (ALBABTAI AB): The Riyadh-based company said fourth-quarter net income more than doubled to 15.5 million riyals ($4 million). The board of directors named Ahmad Al-Dakhil as the company’s new general manager as of Feb. 15 to replace Abdulaziz Nassir, who resigned. The shares gained 0.8 percent to 25.10 riyals.

Astra Industrial Group (ASTRA) : The Saudi Arabian company operating in pharmaceuticals, specialty chemicals and steel industries said fourth-quarter profit rose to 62.9 million riyals from 58.6 million riyals a year earlier. The shares were unchanged at 34.5 riyals.

Basic Chemical Industries (BCI) : A unit of the Saudi chemicals maker said net income retreated 23 percent to 11.1 million riyals in the fourth quarter. The shares rose 3 percent to 27.30 riyals.

Etihad Etisalat Co. (EEC) : Saudi Arabia’s second-largest phone company, known as Mobily, said fourth-quarter profit climbed 16 percent to 1.7 billion riyals as revenue from data services increased. The company plans to pay a dividend of 2 riyals a share for the second half, it said. The shares dropped 1.4 percent to 53.75 riyals.

Jazan Development Co. (GIZACO) : The company that develops farms around Jizan, in Saudi Arabia, said its fourth- quarter loss widened to 30.4 million riyals from 13.9 million riyals. The shares rose 1.1 percent to 27.90 riyals.

Kingdom Holding Co. (KINGDOM) : The company controlled by Saudi billionaire Prince Alwaleed bin Talal said fourth-quarter profit declined 20 percent to 187.8 million riyals on “a decrease in performance” from operations in the Middle East.

Mohammad Al-Mojil Group Co. (MMG) : The Saudi construction services provider said it expects “substantial losses” that exceed 10 percent of its total assets, according to a statement to the Saudi bourse. The losses are “due to additional costs of materials, equipment and manpower of some of the ongoing projects in excess of the approved budgets,” it said. The shares rose 0.6 percent to 23.85 riyals.

National Agriculture Marketing Co. (THIMAR) : The company known as Thimar reported a profit of 12.3 million riyals in the fourth quarter, compared with a loss of 11.9 million riyals a year earlier. The shares advanced 5.6 percent to 28.10 riyals.

Rabigh Refining and Petrochemicals Co. (PETROR AB): The joint venture between state-owned Saudi Aramco and Sumitomo Chemical Co. said fourth-quarter profit fell 4 percent to 50.3 million riyals because of lower refining margins. The shares rose 1.7 percent to 23.70 riyals.

Saudi Arabian Amiantit Co. (SAAC) : The building materials manufacturer said fourth-quarter net rose 27 percent to 34.5 million riyals. The shares gained 1.5 percent to 16.70 riyals.

Saudi Industrial Investment Co. (SIIG) : The investor in petrochemicals projects posted a 98 percent decline in fourth- quarter profit to 4.7 million riyals due to maintenance, higher zakat tax and lower sales. The company said it will seek shareholders’ approval to authorize the board to offer bond and other debt securities locally or internationally. The shares declined 0.5 percent to 19.50 riyals.

Samba Financial Group (SAMBA) : The second-largest Saudi Arabian lender by market value posted a 5 percent increase to 944 million riyals in fourth-quarter profit as operating expenses fell. The shares dropped 1.8 percent to 43.90 riyals.

Saudi Telecom Co. (STC) : The kingdom’s largest telephone company posted a 0.3 percent decline in fourth-quarter profit to 2.28 billion riyals. The shares dropped 0.3 percent to 34 riyals.

United Wire Factories Co. (ASLAK) (ASLAK AB): The metal wires producer said its fourth-quarter net fell 38 percent to 16.7 million riyals. The shares gained 3 percent to 40.90 riyals.

Zain Saudi Arabia (ZAINKSA) : The unit of Kuwait’s Mobile Telecommunications Co. said its fourth-quarter loss narrowed to 461 million riyals, from 521 million riyals a year earlier. The shares were unchanged at 5.70 riyals.

To contact the reporter on this story: Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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