Juhayna, Egypt's largest producer of packaged juice and dairy products, expects its profits to recover next year after an increase in the cost of raw materials squeezed margins this year, its chairman said.
Safwan Thabet said
Saudi Arabia's Yanbu National Petrochemical (Yansab) reported a 20.1 per cent drop in third-quarter net profit, in line with analysts' estimates, as sales volumes declined.
The firm, a subsidiary of Sau
Samsung Electronics sung said its operating profit fell 24.6 per cent in the second quarter of the year to 7.2 trillion won ($7.03 billion), marking its worst quarterly profit in two years.
The drop in profits also flagged u
Standard Chartered warned profits would fall in 2014 for the second year in a row after first-half earnings dropped by a fifth due to tougher regulations and low market volatility in its trading business.
The bank also said on Thu
Arab Bank Group reported 5.4 per cent growth in net profits after taxes and provisions for the first quarter of 2014, reaching $216.3 million compared to $205.1 million for the same period last year.
Customer deposits also increas
Emaar Properties, Dubai's largest listed real estate developer, predicted on Wednesday that its profits would more than quadruple by 2018 as the emirate's economy booms and the company's overseas business expands.
Qatar Navigation (Milaha), a leader in marine transportation and offshore support, has reported a net profit of QR 950 million ($260.6 million) for 2013, as against QR835 million during 2012, marking an increase of 14 per cent.
The telecom sector of Saudi Arabia claimed 55 per cent of the overall profit growth of the listed companies, a report said.
The sector posted profits of SR14.8 billion ($3.95 billion) in 2013 as against SR11.3 billion in 2012, mar
Conglomerate Dubai Investments reported a more than two-fold jump in its 2013 net profit on Wednesday, on the back of higher gain on fair value of its investments, profit from sale of properties and reduced finance costs.
Kuwait Projects Co (Kipco), the country's largest investment company by assets, reported a 11 percent rise in second-quarter net profit on Wednesday and said it was on track for double-digit revenue growth this year.