An economic report showed an increase in corporate profits Gulf Listed in the financial markets during 2021, by 111 percent, amid recovery from the repercussions of Corona and high oil prices.
According to a report by the Kuwaiti Kamco Invest Company (Private), on Sunday, the net profits of companies rose to 196.5 billion dollars last year, compared to 93.1 billion dollars in 2020.
The sectors of energy, banking, basic materials andPublic utility 85% of the total net profit for the whole of 2021.
Companies topped Listed on the market Saudi Arabia (the largest market in the region), profits recorded 143 billion dollars, from 64.8 billion dollars in the previous year.
Abu Dhabi recorded $17.6 billion in 2021, compared to $10 billion the previous year. Qatar came third with profits of $11.7 billion, up from $8.3 billion in 2020.
Dubai-listed companies recorded profits of $10.2 billion, up from $5.8 billion in the previous year.
The profits of Kuwaiti companies amounted to $9.7 billion in 2021, from $1.9 billion in the previous year.
Bahrain recorded $2.8 billion last year, from $900 million in the previous year, while the profits of Omani companies stabilized at $1.4 billion, unchanged.
Gulf companies recovered from the consequences of the Corona pandemic throughout the past year, which affected a record drop in demand for oil – the main source of income for the countries of the region – but the improvement in prices, which exceeded $ 100 a barrel, revived the revenues of Gulf governments.
(Anatolia)
