Bullish 4Q22 results expected for Saudi Arabian producers

Twelve Saudi Arabian cement companies' aggregate profit listed on Tadawul are expected to surge 101 per cent YoY and 20 per cent QoQ to SAR617m (US$164.5m) in the 4Q22, according to a local research house.

Argaam sees bullish forecasts for most Saudi Arabian cement producers in the 4Q22 compared to the year-earlier period. Tabuk Cement Co, Yamama Cement Co, Yanbu Cement Co, City Cement Co and Arabian Cement Co are expected to post the biggest rise in the fourth-quarter profit.

However, expectations for Umm Al-Qura Cement Co and Eastern Province Cement Co are down by 93 and five per cent YoY, respectively.