• The Q1-2015 Saudi corporate results were noticeably mixed. As a whole, the total market profitability dropped 21.6% YoY to reach SAR 22.1 billion. 11 sectors in TASI witnessed growth in pro¬fitability on annual basis, while 5 sectors witnessed an annual drop.

• TASI’s Trailing PE is at 19.7x, PB is at 2.3x and dividend yield at 2.8%.

• Telecom sector is no longer a major player as it ended the quarter with 44.3%YoY decline, mainly because of Mobily’s dramatic revision of pro¬fits. Growth for the sector is expected to be stagnant in 2015.

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