Earnings of listed companies rise to RO 500m in 9M19

Earnings reported by companies listed on the Muscat Securities Market (MSM) for the nine months ended September 30, 2019 climbed 2.9 per cent to RO 500 million, up from RO 486.2 million for the corresponding period of 2018, according to U-Capital, a full service investment firm regulated by the Capital Market Authority (CMA).
The results reporting season of listed firms concluded at the MSM recently. The Financial sector the lion’s share of about 66 per cent of the total, followed by the Services sector at 29 per cent, and the rest by the industrial sector at 5 per cent.
“Earnings during 3Q19 for the market were down by 10.2 per cent QoQ and 8.0 per cent YoY to RO 164.8mn in 3Q19. Financial sector earnings were down 9.6 per cent QoQ and 6.8 per cent YoY at RO 101.2mn. Industrial sector earnings were the most affected with total sectosr earnings at RO 2.42mn only during 3Q19, down 76.9 per cent QoQ and 80.9 per cent YoY. The ervices sector was the star performer during the 3Q19, with 0.1 per cent QoQ and 5.6 per cent YoY at RO 61.2mn,” said U-Capital