Saudi listed companies saw their profit increase 7% to SAR 103bn ( USD 27.5bn ) in 2013 with petrochemical firms accounting for 34% of the total at SAR 35bn (up 3%), Al-Eqtesadiah daily reported. The banking sector was the second best performer in 2013 with SAR 29.8bn in profit, up 18%. The telecom sector recorded SAR 14.8bn in profit last year, marking a 31% expansion. Saudi Telecom (STC) was the main driver of the telecom sector's profits. Higher public spending also boosted the construction sector which achieved SAR 1.2bn in profit following a SAR 144mn in loss in 2012. The agriculture (up 8%), energy (up 7%), industrial investment (up 7%), and transport (up 6%) sectors also contributed to the profit growth of listed companies in 2013. Three Saudi economic sectors performed weakly in 2013. The insurance industry lost SAR 1.3bn last year due to increased provisions to support their technical reserves. Likewise, profits of the real estate sector dropped 16% to SAR 1.8bn in 2013 whereas the media and publishing sector lost SAR 7mn in 2013 compared with SAR 232mn profit in 2012. Saudi Basic Industries (SABIC) topped the list of earners in 2013 with SAR 25.2bn (24% of the total profits), followed by STC at SAR 10bn , Al-Rajhi Bank at SAR 7.4bn and Mobily at SAR 6.7bn . Samba Financial Group (SFG), Riyad Bank , Saudi British Bank (SABB), Saudi Arabian Fertilizer Company (SAFCO), Saudi Electricity Co and Yanbu National Petrochemical Company (Yansab) were also among the top performers in terms of profit last year.
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