Economic Research | Country Risk Weekly Bulletin | Country Risk Weekly Bulletin 564 | Profits of listed companies in Kuwait up 7% to $5.2bn in first nine months of 2018 | Lebanon | Byblos Bank

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Byblos Bank

Country Risk Weekly Bulletin 564

Home Economic Research Country Risk Weekly Bulletin 564 Profits of listed companies in Kuwait up 7% to ...
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Profits of listed companies in Kuwait up 7% to $5.2bn in first nine months of 2018

The cumulative net profits of 157 companies listed on Boursa Kuwait totaled KD1.6bn, or $5.2bn, in the first nine months of 2018, constituting an increase of 6.9% from KD1.5bn, or $4.9bn in the same period of 2017. Listed banks generated net profits of $2.9bn and accounted for 55% of aggregate net earnings in the covered period. Financial services companies followed with $633.1m and telecommunications firms with $630.5m (12.1% each), then industrial companies with $532.3m (10.2%), real estate firms with $274.7m (5.3%), insurers with $107.9m (2.1%), consumer services providers with $73m (1.4%), oil & gas firms with $37.7m (0.7%), basic materials companies with $20.4m (0.4%), consumer goods firms with $16.9m and healthcare providers with $14m (0.3% each), and technology firms with $8.3m (0.2%). Further, the net earnings of oil & gas firms rose by 143.6% year-on-year in the first nine months of 2018, followed by banks (+18.8%), insurers (+15.4%), financial services providers (+3.3%), technology firms (+3.1%), and telecommunications companies (+3%). In contrast, profits of consumer goods companies regressed by 55.5% in the covered period, followed by basic material firms (-46.9%), consumer services providers (-30.6%), real estate firms (-26.6%), and industrial companies (-8.6%).  
Source: KAMCO
 
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Byblos Bank S.A.L., Byblos Bank Headquarters, Elias Sarkis Ave., Ashrafieh, Beirut

List of Banks No.39, CRB:14150, BDL Authorization No. 11/231 Dated 14 May 2005

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