Profits of Listed Companies 2019

About 146 listed companies or 83.4% of total listed companies (174) announced results of their operations for the year ending December 31st 2019, after excluding the companies that did not announce their financial results and those with a different fiscal year. The state’s current health measures to face and address the threat of the Corona virus spread have affected some of the listed companies in delaying the announcement of their annual financial results. Net profits of those 146 companies scored KD 2.039 billion, a 0.4% decline below profits of the same companies in the end of 2018 that were at KD 2.047 billion.

Number of gainer companies reached 114 and 32 achieved losses in 2019, compared to 112 gainers and 34 losers for 2018 for the same sample. From another perspective, 81 companies achieved progress in their performance, including 59 ​​companies increased their level of profit and losses of 22 companies decreased or shifted from losses to profitability, indicating that 55.5% of the companies that announced their results achieved progress in their performances, and the number of companies that achieved progress in its performance from the same sample was 83 companies in 2018. Companies whose performance decreased at the end of last year were 65 companies, including 21 companies that increased their losses or shifted from profitability to losses and 44 companies whose profits decreased, compared to 63 companies including 20 companies that increased its losses or moved from profitability to losses and 43 companies decreased their profitability at the end of 2018.

The top profitable companies list contained 10 leading companies which achieved profits by KD 1.500 billion or 74.8% of total absolute profits. Led by “National Bank of Kuwait (NBK)” with KD 401.3 million of profits. “Kuwait Finance House (KFH)” came second with profits of KD 251 million, and “Ahli United Bank (Bahrain)” came third with profits of KD 221.4 million. On the other hand, 10 companies achieved the highest absolute losses by a total of KD 104.4 million. “IFA Hotels & Resorts Company” achieved the highest absolute losses by KD 22.5 million and ” International Financial Advisers Holding company” came second in losses by KD 18.4 million.

In details, only 4 sectors (out of 12 sectors) improved their profits compared with their performances in 2018, two sectors moved from losses to profitability compared with their performance in 2018, while 5 sectors have had their profits reduced and one sector shifted from profitability to losses. The highest was the Consumer Services sector which shifted its losses by KD 10.6 million to profits by KD 10.6 million, increasing by KD 21.2 million. While the profits of the Industrial sector decreased its profits from KD 223.1 million to KD 199.6 million, declining by KD 23.5 million.

On the other hand, 78 companies announced that they will to distribute dividends: 51 will distribute cash dividends only, 10 companies will distribute bonus shares only and 17 companies will distribute both cash dividends and bonus shares, while 68 companies without any distributions.