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FINANCIAL NEWS
GCC’s listed firm’s profits drop 16 percent in Q4
13 Mar 2016
(MENAFN) More than 51 percent of the GCC’s listed companies’ profits dropped than analysts predicts for the final quarter of 2015, while 31 Pct was more than their expectations.
Furthermore, in Qatar, where the SICO covered 15 listed firms, totaled profit was USD 1.67bn, 15 percent lower than predicted due to Industries Qatar’s (IQ) performance.
In addition, the majority of GCC firms missed agreements estimates in Q4 of 2015, while 60 percent of the Qatari firms were below estimates and 71 Pct of Kuwaiti firms missed consensus.
On the other hand, in the UAE, 43 percent of the companies’ results were under the expected, while 39 percent were above forecasted earnings and 47 Pct of Omani firms missed accord.
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CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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