KUWAIT, April 15 (KUNA) -- Profits of companies in GCC countries rose in 2012 by 4.5 percent reaching USD 55.4 billion, according to a report by Global Investment House released on Monday.

The Kuwaiti market witnessed continuing earnings for the KSE-listed companies in 2012, maintaining the momentum that had been seen in 2010, with the total corporate earnings growing by 12 percent.

United Arab Emirates has maintained robust performance since 2011, with the profits growing 28.8 percent in 2012, buoyed by recovery of the real-estate sector. Meanwhile, the banking sector continued growing despite more regulatory restrictions.

Saudi companies maintained level of profits of 2011, despite substantial government spending. Earnings of the petrochemical sector dropped 16.8 percent, compared with the year before, affecting profits of the market in general.

Profits of Omani companies rose 14.3 percent, in contrast to last year. In Qatar and Bahrain, the corporate profits dropped, in 2012, 34.6, 0.3 percent, respectively.

Accumulated earnings for the Bahrain market fell 34.6 percent in 2012.