Many Gulf companies are still struggling with the aftermath of the financial crisis, the regional property slump, and now increased political uncertainty after the wave of Arab revolts. Corporate earnings, however, continued to recover last year.
Listed companies representing about 90 per cent of the six main Gulf states’ market capitalisation have reported that aggregate net profits rose 25 per cent to $43.1bn last year, according to Markaz, a Kuwaiti investment company.
In 2008, overall net profits tumbled by nearly half to $33.1bn, from a record $64.7bn in 2007, and recovered only a miserly 4 per cent to $34.5bn in 2009. This year, the recovery looks far healthier and more broad-based, say analysts.
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