Boursa Kuwait companies report strong profit growth

This indicates a significant improvement in performance, as 59.1 percent of companies showed progress compared to 2022. The 10 largest companies achieved profits of about 1.89 billion dinars, which represents 74.6 percent of the total announced profits. The group was headed by Kuwait Finance House, the National Bank of Kuwait, and the Mobile Telecommunications Company (Zain). On the other hand, 10 companies incurred absolute losses amounting to a total value of about 160.6 million dinars, and the National Real Estate Company and Al Mazaya Holding Company were the largest losses. At the sector level, the banking sector recorded the highest percentage increase in profits, followed by the industrial sector.

However, the insurance sector has seen a decline in profitability. Regarding dividends, 84 companies expressed their intention to distribute dividends, of which 52 companies chose cash dividends only, 7 only bonus shares, and 25 companies chose mixed distribution. Meanwhile, 53 companies chose not to pay dividends. In terms of market liquidity, the institutional and corporate sector controlled 57.9% of total stock purchases and 57.6% of total sales. However, the retail sector saw an increase in market participation, while the client account and investment fund sectors saw a decline. It is worth noting that the number of active trading accounts decreased by approximately -6.7 percent between December 2023 and March 2024, reflecting lower market activity compared to the same period in previous years.

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