GCC firms record USD32b total earnings in H2

01 Apr 2015

(MENAFN) GCC firms recorded USD32 billion total earnings in the second half of 2014, marking a 6 percent increase against the corresponding period of the previous year, Gulf News reported.

The second half decent earnings are in part due to the solid performance from financial services and real estate sectors. Firms registered an aggregate net profit of USD1.2 billion.

Profits from real estate were logged USD2.7 billion, marking a 29 percent growth when compared to the second half of 2013. The banking sector recorded the third highest growth of 20 percent.

Countries that recorded the highest growth are The UAE and Bahrain with around 32 percent and 11 percent, followed by 8 percent by Kuwait and Qatar with 6 percent.

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