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FINANCIAL NEWS
UAE firms record more than 10 percent income growth for 2014
16 Jul 2015
(MENAFN) Almost half of the companies in the UAE (47 percent), most of which are retailers and consumer goods companies, recorded an income growth of more than 10 percent for 2014, according to a study made by KPMG and Consumer Goods Forum, Gulf News reported.
The decent performance of the Emirates’ firms is higher than the global rates, where only 15 percent of companies worldwide registered a growth of more than 10 percent last year, the study additionally asserted.
The UAE companies included in the study are consentaneous in that over the next one or two years, they will be directing their investments over further expansion and top line growth.
“A young and growing population, coupled with economic diversification, continued investment in infrastructure projects and increased public and private sector spending has made the UAE a lucrative destination for consumer companies to do business,” partner retail at KPMG Lower Gulf stated.
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