GCC Companies Post Record Profit Growth Amid Higher Oil Prices
Kuwait and Saudi Arabia led the way in the GCC's record-breaking profit growth in Q2, according to Kamco Invest. The regional non-banking financial powerhouse reported that aggregate net profits for companies listed on GCC exchanges reached $74.8 billion, a 31.3% increase from the same period last year and 10% higher than the previous quarter.
The sharp rise was largely driven by higher crude oil prices amid regional geopolitical tensions, which more than offset a decline in crude exports. Brent crude spot prices rose 27% year-on-year for the second consecutive quarter, helping over a third of listed regional energy companies report higher earnings.
Kuwaiti companies saw the biggest percentage increase, with aggregate net profit nearly doubling to $3.1 billion. The jump was largely due to losses from discontinued operations reported by Agility in Q2 2025, which had weighed on last year's comparison. Steady earnings from Kuwaiti banks also supported overall profit growth.
Energy companies led the way in terms of sectoral growth, with 20 of 31 listed companies reporting higher year-on-year profits. Aggregate energy-sector net profit rose 41.6% to $36.2 billion in Q2 from $25.5 billion a year earlier.