Boursa Kuwait companies report strong profit growth

Boursa Kuwait companies report strong profit growth

KUWAIT CITY, April 14: Al-Shall’s weekly report reveals promising financial trends among companies listed on the Boursa Kuwait, with 137 out of approximately 146 companies reporting net profits totaling around 2.53 billion dinars. This represents a notable 22 percent increase compared to the profits reported for the same companies in 2022, which stood at about …KUWAIT CITY, April 14: Al-Shall’s weekly report reveals promising financial trends among companies listed on the Boursa Kuwait, with 137 out of approximately 146 companies reporting net profits totaling around 2.53 billion dinars. This represents a notable 22 percent increase compared to the profits reported for the same companies in 2022, which stood at about 2.07 billion dinars, reports Al-Qabas daily. Of the total companies, 112 were profitable, while 25 reported losses. Interestingly, 81 companies demonstrated improved performance, with 68 of them increasing their profits and 13 transitioning from losses to profitability or reducing their losses.

This signifies a significant improvement in performance, with 59.1 percent of companies showcasing progress compared to 2022. The top 10 profit-earning companies amassed approximately 1.89 billion dinars, accounting for 74.6 percent of the total profits reported. Leading the pack were Kuwait Finance House, National Bank of Kuwait, and Mobile