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Firms listed in Bahrain post $1billion Profit

Local public shareholding companies listed on Bahrain Stock Exchange have achieved a net profit of BD1 billion ($2.65 billion) last year, it has been revealed.

They posted net profits of BD1,004.5 million compared with BD774.3 million the previous year, recording a growth of 29.7 per cent. And the value of cash dividends was BD404.5 million compared with BD350.8 million in 2006.

Data released by the exchange indicated that all sectors achieved positive growth in net profits with the exception of the industrial sector. The investment sector achieved the highest profit of BD540.3 million, capturing 53.8pc of the total. It was followed by the commercial banks sector with BD259.4 million, representing 25.8pc of the total.

Next came the services sector with BD162 million, making up 16.1pc of the total profit. They were followed by insurance capturing 2.4pc, hotels and tourism 1.7pc and the industrial sector 0.18pc.

From a different perspective, the hotels and tourism sector was ranked first with a growth of 64pc, the highest among all sectors. It was followed by the services sector with a growth rate of 31.6pc, commercial banks 30.1pc, investment 29.6pc, and finally the insurance sector with an increase of 5.36pc.

The industrial sector's net profit, however, declined by 0.2pc. - TradeArabia News Service

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