MUSCAT: Publicly traded companies listed on the Muscat Stock Exchange (MSX) posted net profits aggregating over RO 753 million during the 2023 financial year.
This notable growth marks a 25% increase over 2022 figures, reflecting the resilience and prosperity of the listed companies within the exchange, the bourse said in a post.
A significant 77% of the companies listed on MSX recorded net profits, underlining the collective success and robust performance of the market. The financial sector emerged as a powerhouse, contributing significantly to the overall prosperity, as it accounted for a substantial 70% of the total net profits generated by the listed companies, reaching an impressive RO 531 million.
Breaking down the sectoral performance, the industrial sector stole the spotlight with an impressive 137% increase in financial performance, while the financial sector experienced a commendable 15% increase. However, the service sector faced a modest challenge with an 11% decrease in financial performance.
These figures, based on the initial financial results disclosed by the listed companies, are a testament to the strength of the Omani economy and the resilience of its financial markets.
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