GCC- listed companies miss analysts’ profit estimates for second quarter of 2012

Manama, October 2nd , 2012: Aggregate profits of US$ 11.6 billion announced by GCC-listed companies for the second quarter of 2012 disappointed investors, as the numbers fell marginally short of analysts’ aggregate median profits estimate of US$ 12 billion. The results shortfall was led mainly by the results of Kuwaiti companies. 

Forecasts were available for 124 companies compared with 103 companies for the first quarter of the year, with 57 per cent of these companies announcing higher-than-expected second-quarter earnings. The findings are included in the GCC Equities – Result Snapshot 2Q12 research report published by Bahrain-based Securities & Investment Company (SICO). 

The full press release in English & Arabic can be downloaded here