The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Abu Dhabi / WAM
A total of 110 listed companies secured profited worth AED31.9 billion during H1 2017, against AED32 billion in the corresponding period last year.
The positive financial results announced by national banks
for the first six months of the year are fairly good given the unsatisfactory performance made
by some companies whose pro-fits declined after they had
reconsidered some of their
investment plans.
The banking sector’s profits account for 59.5 percent – AED19 billion- of the total gains made by the listed companies which
disclosed their H1 financial
statements.
In more detail, 12 banks listed at ADX secured profits of AED11.22 billion, a growth of 2.3 percent from AED11 billion in the first half last year. Seven banks listed at DFM made profits of AED7.87 billion, an increase of 7.8 percent from AED7.3 billion in the same period last year.
At the telecommunications sector, net profit of AED4.9 billion was secured, accounting for 15.3 percent of the total gains made during the first half of the year, with the property sector profit standing at AED3.8 billion – 11.9 percent of the total.