Complex Made Simple

Consolidated profit of UAE-listed companies at AED48 billion in nine months

Banking sector continues to account for largest chunk of consolidated profits with a massive 61 per cent

The consolidated profit of 109 companies listed in the Abu Dhabi and Dubai stock markets amounted to AED48.1 billion in the first nine months of the current year.

The figure signals a downward turn of 9.4 per cent compared with the same period last year when it hit AED51.3bn, according to fresh data compiled and published by Al Bayan newspaper.

In Dubai, the consolidated profits of 46 companies listed in the emirate’s financial exchange reached AED20.6bn in the January-September period, down from AED21.2bn in the corresponding period of 2014.

The profits of 63 firms listed in Abu Dhabi’s stock exchange totalled AED27.5bn during the nine-month period, down from AED30.1bn recorded for the same period last year.

The banking sector continued to account for the largest chunk of consolidated profits in both markets with a massive 61 per cent or AED29.4bn, up by 11.5 per cent from the AED25.3bn recorded for the same period in 2014.

The consolidated profits of nine banks listed in Dubai stock exchange surged by 25 per cent to a total of AED11.1bn at the end of September, compared with AED8.8bn for the same period last year.

In Abu Dhabi, 13 listed banks posted a net profit total of AED18.3bn, compared with AED17.5bn for the same period of 2014, indicating a rise of 4.5 per cent.