Complex Made Simple

97 UAE-listed firms gain AED36.4 billion in H1

Banking sector accounted for the bulk of profits in both markets, reaching roughly 55.5 per cent of the total

The total combined profits of 97 listed companies in the Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM) reached AED36.4 billion by the end of H1 2015.

This represents a growth of 5.3 per cent compared with the profits recorded in the same period of 2014, which amounted to nearly AED34.5bn, reports UAE-based Al Bayan.

According to an analysis by the economic department of Al Bayan, the profits of 38 listed companies in DFM amounted to AED16.3bn during H1 2015, up by 13.2 per cent compared with AED14.39bn in the first half of the previous year.

In ADX, the analysis has shown that the total combined profits of around 59 companies, which announced their financial statements by the end of the first half of this year, did not exceed the growth rate of 0.002 per cent compared with the same period of the previous year, when the profits amounted to AED20.05bn.

The banking sector accounted for the bulk of profits in both markets, reaching roughly 55.5 per cent after the profits of 21 national banks amounted to AED20.2bn during the first half of this year.