ADX, DFM firms post Dhs18.4b profits in Q1

16/05/2017 05:47 AST

A total of Dhs18.4 billion of Q1 profits were reported by 92 companies listed at Abu Dhabi Securities Exchange (ADX), and Dubai Financial Market (DFM), a growth of 13 per cent from Dhs16.2 billion in the same period last year.

Fifty five companies listed at ADX posted Q1 profits of Dhs10.7 billion, a growth of 27.3 per cent from 2016 Q1's Dhs8.4 billion.

At DFM, the total profits of 42 companies by the end of Q1 edged toward Dhs7.7 billion, a 1.2 per cent down from the same period last year.

The banking sector represented by 19 national banks at the two markets came first in terms of profits with a total of Dhs9.7 billion in Q1, a 7.7 per cent up from Dhs9.00 billion during the same period last year.

The profits of 12 banks at ADX hit Dhs5.8 billion by the end of Q1, an increase of 6.4 per cent from the same period last year of Dhs5.45 billion.

Seven banks at DFM booked gains of Dhs3.9 billion during the first three months, a rise of 9 per cent up from Dhs3.55 billion during the same period last year.


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