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FINANCIAL NEWS
Saudi corporates profit to rise 17 percent in 2014
17 Sep 2014
(MENAFN) Saudi Arabia’s leading companies’ combined net profits is expected to rise 17 percent in 2014 and a further 11 percent in 2015, Gulf Daily News reported.
This predicted growth is set to place Saudi Arabia roughly on a similar position with Qatar, where profit growth is set to average 13 percent this year and next, and Abu Dhabi, which is expected to average 17 percent in its profit growth.
The forecasted growth would be a huge improvement from the country’s zero profit growth in 2012 and a 6 percent increase last year, which was mostly attributed to poor performance and weak profits at petrochemical firms.
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