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14.7pc Y-O-Y SURGE

Image: Courtesy WAM

Fifty UAE listed firms post H1 revenue of over $9bn

ABU DHABI, August 5, 2019

The total combined revenue of 50 companies listed on the Abu Dhabi and Dubai financial markets rose to Dh33.73 billion ($9.18 billion) in the first half of 2019, increasing by 14.7 per cent compared to the same period in 2018.

A survey conducted by the Emirates News Agency (Wam) on companies that disclosed their financial results showed that the 25 companies listed on the Dubai Financial Market (DFM) posted strong profits, jumping to a combined total of Dh16.22 billion from January to June this year, an increase of 23.2 per cent compared to the same period last year.

The total profits of the 25 companies on the Abu Dhabi Securities Exchange (ADX) also rose to Dh17.5 billion at the end of the first half of this year, an increase of 3.2 per cent.

The rise in profits of these companies reflects the growth of their operations, despite the slowdown of most economic sectors in the region, and around the world.

The profits of 14 listed national banks that disclosed their financial results accounted for 72.1 per cent of the total profits of the 50 surveyed companies, with their combined net profits increasing to Dh24.33 billion during the first half of this year, an increase of 16.8 per cent compared to the same period in 2018.

The profits of five banks listed on the DFM reached Dh12.8 billion at the end of June, a growth of 32 per cent over the same period last year.

Also, the combined profits of nine banks listed on ADX rose by 3.7 per cent to Dh11.533 billion during the same period.

The total profits of all companies listed on the Abu Dhabi and Dubai financial markets reached Dh19.45 billion during the first quarter of this year, which is nearly the same value as seen in the first quarter of last year.




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