Saudi Gazette - GCC firms’ earnings to grow by 9% in Q2

"GCC companies’ earnings were expected to grow nine percent in Q2 2013, SICO’s report titled “GCC Equities – Quarterly Result Preview - 2Q13” said.

“With the exception of the ‘real estate and construction’ sector, profits are expected to grow across the board mainly driven by the petrochemical sector,” it noted.

Strong non-interest income would drive UAE banks’ earnings by 18 percent YoY, while lower trading income and contracting margins (NIM) will suppress KSA and Qatari banks’ earnings growth to a modest four percent in 2Q13, compared to same period last year, it added."

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