Riyadh-Agencies <\/p>\n
Gulf Cooperation Council (GCC) companies managed to achieve a 6 percent increase in profits in 2012 compared to 2011, with total revenues reaching $55.2 billion. The Kuwaiti Financial Center \u00abAl-Markaz\u00bb had predicted in a recent report issued in November of last year that Gulf companies would post profits of $54.97 billion, representing 5 percent growth in 2012. The growth in profits in 2012 is attributed to the strong performance of the financial services, real estate, and banking sectors.<\/p>\n
Basic Earnings
\nThe commodities sector\u2019s total net profits amounted to $11.64 billion in 2012, a 6 percent decrease compared to the previous year, while the telecommunications sector\u2019s profits continued to decline in 2012, falling by 3 percent. In contrast, the banking sector recorded profits of $22 billion in the same year, an 11 percent increase compared to the previous year, while the real estate sector achieved profits of $2.92 billion, a 58 percent increase, and the financial services sector saw a significant increase in profits, rising from $307 million in 2011 to $1.73 billion in 2012.
\nThe growth in corporate profits in the Gulf Cooperation Council (GCC) countries in 2012 was driven by rising profits in Kuwait, the United Arab Emirates, and Oman, where Emirati companies posted total net profits of $12.16 billion, a 25 percent increase compared to 2011, Kuwaiti companies, meanwhile, posted profits of $4.86 billion in 2012, a 22 percent increase compared to the previous year. During the same period, Omani companies\u2019 profits grew by 18 percent to $1.65 billion, while Bahrain and Qatar recorded negative growth in corporate profits.<\/p>\n
A significant increase
\nDuring the fourth quarter of 2012, corporate profits in the Gulf Cooperation Council (GCC) countries declined by 15 percent compared to the third quarter; however, compared to the fourth quarter of 2011, profits recorded a significant increase of 40 percent, Companies in all six countries contributed to this increase. The United Arab Emirates and Bahrain saw the largest increases when comparing the fourth quarter to the third quarter of 2012, at 214 percent and 202 percent, respectively. During the same period, Bahraini companies also achieved remarkable profit growth of 73 percent, while companies in Saudi Arabia and Qatar recorded declines in corporate profits of 27 percent and 11 percent, respectively. With the exception of the telecommunications sector, where profits fell by 33 percent, all sectors achieved profit growth during the fourth quarter of 2012 compared to the same period in 2011, with the construction sector and the conglomerates and family-owned businesses sector recording profit growth of 76 percent and 71 percent, respectively. With the exception of the financial services and real estate sectors, all sectors recorded a decline in profits during the fourth quarter of 2012 compared to the same period in 2011, with the telecommunications sector recording a 33 percent decline in profits.
\nMajor Changes
\nIn the commodities market, according to a report by the National Bank of Kuwait, significant fluctuations occurred in precious metal prices, which fell by more than 12 and 16 percent in a single day, causing the market to focus entirely on gold and silver prices last week. In addition, the significant market fluctuations affected a number of other commodities, as the price of a barrel of oil fell sharply during the week, with the price of a barrel of Brent crude reaching a low of $96.75, while the price of a barrel of crude oil fell to $85.61.<\/p>","protected":false},"excerpt":{"rendered":"
Reading time: <\/span> 2<\/span> Minutes<\/span><\/span>Riyadh-Agencies GCC companies were able to achieve during 2012 a growth in profits by 6 percent compared to 2011, and their total revenues reached 55.2 billion dollars, as the Kuwait Financial Center \u00abMarkaz\u00bb in a recent report issued in November last year expected that Gulf companies would record profits of 54.97 billion dollars with a growth of 5 percent ... Read more<\/a><\/p>","protected":false},"author":34,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"0","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_seopress_news_disabled":"","_seopress_video_disabled":"","_seopress_video":[],"_seopress_pro_schemas_manual":[],"_seopress_pro_rich_snippets_disable_all":"","_seopress_pro_rich_snippets_disable":[],"_seopress_pro_schemas":[],"footnotes":""},"categories":[120],"tags":[],"class_list":["post-1247","post","type-post","status-publish","format-standard","hentry","category-capital-markets"],"acf":{"amlak_post_excerpt":"","amlak_post_excerpt_source":{"label":"Amlak post excerpt","type":"text","formatted_value":""}},"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","trp-custom-language-flag":"","event-thumbnail":"","event-medium":"","event-large":"","event-hero":""},"author_info":{"info":["\u0627\u0645\u0644\u0627\u0643 \u0627\u0644\u0639\u0642\u0627\u0631\u064a\u0629"]},"category_info":"\u0623\u0633\u0648\u0627\u0642 \u0627\u0644\u0645\u0627\u0644<\/a>","tag_info":"\u0623\u0633\u0648\u0627\u0642 \u0627\u0644\u0645\u0627\u0644","comment_count":"0","_links":{"self":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/1247","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/comments?post=1247"}],"version-history":[{"count":0,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/1247\/revisions"}],"wp:attachment":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media?parent=1247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/categories?post=1247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/tags?post=1247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}