GCC Corporate Earnings - H2 2016

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GCC corporate earnings fell by 8% in H2 2016 (YoY basis) after negating the effects of extraordinary items. All of the GCC countries, with the excepti.....

Summary

GCC corporate earnings fell by 8% in H2 2016 (YoY basis) after negating the effects of extraordinary items. All of the GCC countries, with the exception of Bahrain & Kuwait had negative earnings growth during H2 2016 compared to H2 2015 owing to sluggish economic conditions which affected banking, telecom and real estate sectors.  Effect of lower oil prices and their impact on non-oil sectors was evident in the earnings performance of H2, 2016. Key sectors such as banking, telecom, real estate and construction all witnessed a fall in earnings. Financial services (Earnings H2 2016 – USD 2.1Bn) performed well posting 23% growth in earnings during H2 2016 and an overall increase of 11% for the whole year 2016. Recovery of oil prices in the second half of the year helped Commodities (Earnings H2 2016 – USD 3.8Bn) sector to recover and post 19% growth in H2, 2016 earnings compared with same period in earlier year. For the whole year the commodities sector’s earnings increased by 1%. Going forward, we expect GCC earnings to post a growth of 4.7% for 2017 .

The report analyses the corporate earnings growth in the region, across countries and sectors, and also highlights the company performance that stood out during the second half of 2016. The report also provides country-wise analysis, and a forecast for the full year of 2017.

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GCC Corporate Earnings - H2 2016

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