Profits of 127 Saudi companies increase 53.3%

03 Feb 2011

(MENAFN) The Global Investment House in Saudi Arabia said that, for the first time in three years, 127 companies in the country witnessed an annual increase in total net profits by the end of the fiscal year 2010, reported Arab News.

The firm said that full-year net profits of the Saudi-listed companies increased 35.3 percent amounting to $20.8 billion by the end of the year 2010, compared to the same period of the year 2009.

Also quarterly net profits of Saudi compaines grew by 39.61 percent year on year, however, net profits in the fourth quarter of 2010 decreased by 8.8 percent quarter on quarter, the firm added.

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