Aggregate net profit of Saudi corporate reached SR47.5 billion, up 26 percent year-on-year basis, Global Investment House said in its report on "Saudi Arabia Corporate Profitability 2011". Total net profitability for Saudi listed stocks by the end of the second quarter of 2011 also increased by 27.9 percent year-on-year and 17.9 percent quarter-on-quarter. The report covers the results of 135 companies that announced their financial results by the deadline set on July 20, 2011, and whose financial year end on December 31. Companies which did not have a comparable period were excluded from this analysis. Out of the 135 companies that are covered in this report, 74 companies managed to improve their bottom lines in the first half, including seven companies that swung from losses in the first half of 2010 into gains by the end of first half this year. Meanwhile, 31 companies reported decreased profitably, and 30 companies reported loss. By sector, 10 out of the 15 sectors of the market managed to enhance their bottom lines by the end of the first half, compared to the corresponding period of the previous year, while five sectors reported a decline in their net profit. For the Saudi listed companies' performance by the end of second quarter this year, 10 out the 15 sectors reported better results, compared to the previous quarter, including two sectors, energy & utilities and transport, which managed to swing from a net loss in the previous quarter to net gains.
