Saudi industrial stocks ride the rebound, says Al-Rayan

The Doha-based asset manager analyzed the performance of regional consumer and industrial stocks over the last two years and found that profitability across the Gulf industrial companies outpaced their consumer peers.

“We’ve long had the view that the way to play the recovery is through industrial stocks,” Akber Khan, senior director asset management at Al-Rayan Investment told Bloomberg TV on Monday.

”We have been particularly bullish on the Saudi building materials and construction sector and we remain positive as we think there is still far more to come.”

Saudi Ceramics has emerged as the best performer in this space so far this year with its shares up by about 60 percent, closely followed by fellow Saudi industrial names Bawan and Saudi Industrial Services — both up by about 55 percent year to date.