Kamkoul Investment Company report on the profits of companies listed on the Gulf stock exchanges for the year 2018, revealed that the total profits increased by 3.5% in the fiscal year 2018, reaching $ 68.6 billion, compared to $ 66.3 billion in the fiscal year 2017.


A statement issued by Namazin added that the Saudi market, Tadawul, which accounts for about 41.2% of the total net profit of the companies listed in the Gulf markets for the fiscal year 2018, managed to record a growth of 1.3%, reaching The net profit for companies listed on the Tadawul market is US $ 28.2 billion in FY18 compared to US $ 27.7 billion in FY17.

On the other hand, the Abu Dhabi Securities Exchange was the only exception, recording an annual decline in net profit for the fiscal year 2018, a decline of -1.3% to reach $ 10.5 billion.

The companies listed on the Kuwait Stock Exchange recorded the highest growth rate on an annual basis, an increase of 10.7% to reach $ 5.8 billion.

Generally, the corporate earnings growth in 2018 was boosted by the strong results recorded by the three largest sectors in terms of market value in particular: banks, telecommunications and basic materials whose profits increased by 11.8% and 13.5%, and 11.6%, respectively.

The Dubai Financial Market came to the fore by registering the highest rate of increase in net profits in real terms at the level of the Gulf Cooperation Council for the year 2018 at a value of $ 9.1 billion, against the backdrop of double-digit growth for the banking and real estate sectors.

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As for the performance of the various sectors, the sectors with the largest market value, including banks, basic materials, and communications, outperformed the forces that supported the enhancement of the net profits recorded in the year 2018, as the net profits of the Gulf banks increased for the year Fiscal 2018 increased by 11.8% to $ 36.9 billion, compared to $ 33 billion in FY17.

The banking sectors in all GCC markets were able to record double-digit growth in FY18 profits, except for the Qatari banking sector, which recorded a slightly lower growth of 8.7%.

On the other hand, the earnings of the basic materials sector listed on the Gulf stock exchanges increased by 13.5% and amounted to 10.1 billion USD, registering the second highest contribution in real terms on a sector basis.

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