AED19.45 bn of listed companies’ combined profits in Q1-2019

ABU DHABI, The combined profits of companies listed in Abu Dhabi Securities Exchange and Dubai Financial Market amounted to AED19.45 bn in Q1-2019, which is almost the same amount booked in previous quarter, according to official figures released by the two bourses.

The DFM-listed firms’ total profits stood at AED9.75 bn in Q1 against AED9.73 bn in the comparable period 2018, with ADX-listed companies posting AED9.7 bn against AED9.75 bn in the same period last year.

The banking sector accounted for the largest share of net profits at AED11.13 bn during the first three months of the year. Bank of Sharjah and Invest Bank have not disclosed their financial statements yet.

DFM-listed banks’ profit surged 17 percent to AED5.51 bn in Q1 against AED4.69 bn in the corresponding period year before, with lenders accounting for 57 percent of the market’s profits during the period.

Realty and construction sectors came second with total profits of AED3.16 bn in Q1-2019.

At ADX, listed lenders’ combined Q1 profits rose to AED5.62 bn against AED5.5 bn in the same period last year.

Source: Emirates News Agency