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.
