Analysts' estimates were available for 103 GCC-listed companies, of which 58 reported better-than-projected results.
Companies reported a cumulative first quarter profit of $14.1 billion, which was a 12 per cent year-on-year increase compared to a profit of $12.6 billion for the first quarter of 2011. This profitability improvement was the highest for eight consecutive quarters. GCC-listed companies aggregate profits in 1Q/12 were also higher than forecast, after reporting disappointing profits for the previous two quarters in 2011. These findings where in SICO's Research the 'GCC Equities Results Snapshot - June 2012' report.
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