GCC corporate earnings: Lower revenue, higher provisions to hit most sectors – experts – ZAWYA

GCC corporate earnings: Lower revenue, higher provisions to hit most sectors – experts – ZAWYA

GCC corporate earnings: Lower revenue, higher provisions to hit most sectors - experts | ZAWYA MENA Edition HomeMarketsEquitiesArticleGCC corporate earnings: Lower revenue, higher provisions to hit most sectors - experts Analysts expect the GCC nations to see earnings improvement in the quarters to come    Business man holding phone. Image used for illustrative purpose.GCC corporate earnings will take a hit in Q2 2020 as lockdown measures to stem the spread of the coronavirus hurt business activity during the quarter."Given the breadth and depth of the restrictions we saw in April and May, we expect GCC Q2 earnings to reflect the full impact of the lockdown,“ Salah Shamma, Head of Investment, MENA, Franklin Templeton Emerging Markets Equity told Zawya."We anticipate most sectors to announce a material drop in quarterly earnings on the back of lower revenue and higher provisions,“ Shamma said."Given the breadth and depth of the restrictions we saw in April and May, we expect GCC Q2 earnings to reflect the full impact of the lockdown,“ Salah Shamma, Head of Investment, MENA, Franklin Templeton Emerging Markets Equity told Zawya.GCC corporate earnings will take a hit in Q2 2020 as lockdown measures to stem the spread of the coronavirus hurt business