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FINANCIAL NEWS
Kuwait combined companies’ profits down 1.3 percent in H1
28 Aug 2014
(MENAFN) According to a report by the National Bank of Kuwait, the combined profits of listed Kuwaiti companies were unimpressive during the January-June period, Saudi Gazette reported.
The reported profits of 165 listed companies decreased 1.3 percent on year in the cited period to reach USD2.841.91billion, with the decrease mostly attributed to the real estate sector though other sectors declined as well.
The report added that over 70 companies reported decline in profits compared to a year ago, while 94 companies registered a healthy growth.
Meanwhile, total reported profits of the real estate sector declined 10 percent, with combined profits for the sectors decreasing by USD98.23 million, while other sectors like technology, and oil and gas registered a strong growth in the first half of the year.
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