Aggregate FY2011 net profit of GCC listed corporate increased 29.8 percent YoY
GCC corporate managed to post good financial results in FY2011. Aggregate net profit of all GCC listed stocks stood at USD52.21bn in 2011, up by 29.8 percent YoY. With exception of Oman and Kuwait, the aggregate profitability of all GCC countries increased.
By country, all GCC stock markets managed to enhance their bottom lines by the end of 2011, barring the Omani & Kuwait markets, with its corporate profitability declining by 5.5 percent & 4.7 percent YoY respectively.
The Bahrain market had the best performance amongst its regional peers, with its corporate profitability increasing by 175.3 percent YoY. However, if we exclude Gulf Finance House profit and loss figures from the calculation, Bahrain's corporate profitability increased by 36.5 percent YoY in 2011.
By sector, 2011 aggregate net profits for GCC Banking sector increased by 15.4 percent YoY. Industrial sector was also a notable gainer, with its aggregate net profit increasing by 47.9 percent YoY by the end of 2011.
On the negative side, aggregate net profit of GCC Insurance stocks retreated by 20.4 percent YoY, as it dropped from USD799.4mn in 2010 to USD636.1mn in 2011.
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© Press Release 2012
