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DOHA: Qatar’s listed companies are expected to grow by 27 percent year-on-year basis. The aggregate profits of the country’s seven listed companies are to reach $78.9bn, analysts estimated.
According to an analysts’ consensus estimates released yesterday by the investment bank SICO, UAE and Qatari companies are expected to drive Q4 earnings growth, with their profits expected to grow by 64 percent and 27 percent YoY respectively.
The report SICO-GCC Equities — 4Q12 Profit Consensus Estimates — January 2013 provides Q4 2012 analyst consensus profit estimates for GCC’s listed companies.
According to the report, the GCC companies’ Q4 2012 quarterly profits are expected to grow by 20 percent on a YoY basis.
Analysts’ estimates were available for 92 companies — compared to 122 companies in 3Q 2012 — representing 67 percent of the total market capitalisation.
GCC listed companies’ aggregate profits, for 562 companies, increased 5.9 percent YoY to $13.7bn in 3Q 2012, from 3Q 2011 profits of $12.9bn.
Analysts’ estimates suggest a continuation of the upward trend on a YoY basis, while forecasting a marginal 4 percent decline from last quarter’s profits.
The consensus estimates suggest strong YoY earnings growth for ENBD, Arab National Bank, Burgan Bank, Fawaz Al Hokair, Qtel, and IQCD in 4Q 2012. Among the Saudi companies that have already announced 4Q12 results, Jarir and Dar Al Arkan missed estimates, while APPC and BSFR beat forecasts.
The analysts prefer large cap stocks with strong fundamentals and their top picks from Qatar are Industries Qatar and QNB.
Other preferred regional companies include STC, FGB, Yansab, SABB, SAMBA, Emaar, Etisalat, SIPCHEM, Aramex and Sorouh.