ECONOMY

Listed firms appear to go from strength to strength

listed-firms-appear-to-go-from-strength-to-strength

Listed companies performed satisfactorily in the first half of the year, as despite the predictable slowdown during the April-July election period, their momentum on the whole continued to improve, supported by easing taxation and capital gains from bonds and real estate that strengthened their fundamentals.

Analysts appear optimistic about the rest of the year as the improvement of the macroeconomic environment, tax cuts and lower interest rates are expected to continue to support listed firms’ financial results. Fresh investments are considered key to corporate profits, taking them to new points of reference, as after some eight years of difficulties the conditions are now in place for new sources of revenues.

As Beta Securities comments, the credit sector will play a significant role in the effort to increase revenue sources, as the credit expansion has already started from housing credit.

First-half financial reports processed by Beta showed that of the 164 listed companies, 104 showed profits, with 44 of them recording an increase in profits too, and 17 swung from losses to earnings. There were also 43 that recorded losses.