Saudi, Qatar firms rank among top GCC performers

The Dubai Financial Market ranks among the top 15 fastest growing companies in the GCC.

Saudi Arabian Mining Company (Ma'aden),  Qatar Insurance Company (QIC) and Bupa Arabia are the top three among the fastest-growing listed companies in the GCC during 2011-2015, a research has revealed.

While 10 out of the top 15 corporate performers are from Saudi Arabia and Qatar, in terms of revenue growth, the fastest-growing company was Ma'aden, which recorded a 63 per cent annual jump in revenues and a double-digit surge in net income.

The Dubai Financial Market was also among the top 15 fastest growing companies in the GCC.

The second-fastest growing company was QIC, which achieved a 40 per cent annual lift in revenues and 15 per cent annual increase in net income. EditIn third position was health insurer Bupa Arabia for Cooperative Insurance, whose revenues also increased by 40 per cent per annum. Bupa Arabia's net income nearly doubled each year, growing at a compound rate of 99 per cent, according to the research released by Marmore Mena Intelligence that profiles 15 of the fastest-growing listed companies in the GCC.

"These companies, which have achieved revenue growth of at least 20 per cent per annum over the five years to the end of 2015, have had the vision, the business models and the solutions for their customers which have enabled them to thrive even though the regional economy has been slowing," said Tal Nazer, chief executive officer of Bupa Arabia.

The report highlights how particular companies have achieved very strong annualised growth in revenues and/or net income in the five years to 2015.

For all but one of the 15 companies, higher revenues and/or net income resulted in share price gains over the five years to the end of 2015. Some 10 of the companies achieved double digit rises in their share prices.

This outcome meant that the fastest-growing companies dramatically outperformed other listed companies in the GCC countries.

"Falling energy prices have produced a profound - and well-documented slowing of economic activity across the region over recent years," said M.R. Raghu, managing director of Marmore.

Nigel Sillitoe, CEO, Insight Discovery, a marketing partner of Marmore, said an investment of $1,000 in the S&P GCC Index at the end of 2010 would have become $950 by the end of 2015. The value of the investment would have basically tracked sideways. Conversely, an investment of $1,000 in the 15 fastest-growing companies would have risen in value to $1,910.

- issacjohn@khaleejtimes.com

Issac John

issacjohn@khaleejtimes.com