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Aggregate net profits reported companies listed on GCC exchanges dropped to the second lowest level in nine quarters during Q1-2024 at $56.4 billion as compared to $61.8 billion in Q1-2023, according to Kamco Invest.
The decline was mainly led by a y-o-y decline in profits for the Energy, Telecom and Capital Goods sectors partially offset by higher profits reported by mainly by Banks, F&B and Real Estate companies.
The sequential performance was positive with higher profits for the top three sectors partially…