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 Telecommunications Company (Zain). Conversely, 10 companies incurred absolute losses totaling approximately 160.6 million dinars, with National Real Estate Company and Al Mazaya Holding Company bearing the highest losses. Sector-wise, the banking sector recorded the highest increase in profits, followed by the industrial sector.

However, the insurance sector experienced a decline in profitability. Regarding dividends, 84 companies expressed their intent to distribute dividends, with 52 opting for cash dividends only, 7 for bonus shares only, and 25 for a mixed distribution. Meanwhile, 53 companies opted not to distribute profits. In terms of market liquidity, the institutional and corporate sector dominated, accounting for 57.9 percent of total share purchases and 57.6 percent of total sales. However, the individual sector saw an increase in market participation, while the customer accounts and investment funds sectors witnessed a decline. Notably, the number of active trading accounts decreased by approximately -6.7 percent between December 2023 and March 2024, reflecting a decrease in market activity compared to the same period in previous years.