Profits of Listed Companies – First Half 2019

165 listed companies, 94.3% of total listed companies (175) announced results of their operations for the first half after excluding the companies which did not announce their results and those with a different fiscal year. Net profits of those companies scored KD 1.136 billion, a 4.8% growth above profits of the companies in the first half of 2018 which were KD 1.084 billion. However, those companies registered lower profits by 6.1% compared with the profits level of the same sample in the first quarter of 2019 when those companies achieved KD 550 million in the second quarter of 2019 compared with KD 585.5 million in the first quarter of 2019. 

5 sectors only improved their profits compared with their performances in the first half of 2018. Meanwhile, 7 sectors have had lower profits compared with the same period of last year; the best was the banking sector which increased its profits from KD 565.1 million to KD 610.6 million. The financial services sector came second with increased profits from KD 135.1 million to KD 157.6 million. The telecommunications sector came third with increased profits from KD 121.9 million to approximately KD 135.6 million. On the other hand, the profits of the industrial sector retreated from KD 136.8 million to KD 116.3 million. The following schedule displays the sectors’ details.

Results of the first half of the current year indicate that performance of 91 companies improved compared with their performances in the first half of the previous year, including 66 companies which increased profits and 25 companies reduced their losses or converted to profits. This means that 55.2% of the companies which announced their results achieved better performances. Performance of 74 companies dropped, including 50 companies with less profit and 24 companies increased the level of their losses or moved from profit to loss. The top winners list contained 10 leading companies which achieved profits by KD 745.8 million, 65.7% of total absolute profits. Led by “National Bank of Kuwait (NBK)” with KD 209.1 million of profits. “Ahli United Bank (Bahrain)” came in second with profits by KD 114.4 million, and “Kuwait Finance House (KFH)” came third in profits by KD 107.7 million. “Zain” came forth by KD 97.3 million profits. On the contrary, 10 companies achieved the highest absolute losses by a total of KD 43.3 million. “Abyaar Real Estate Development” achieved the highest absolute losses by KD 19.8 million and “International Financial Advisers Holding” came second in losses by KD 6.2 million