|14 February, 2020

67 UAE-listed firms net $20.5bln in profits for 2019

This accounts for 62% of the total profits registered by the 67 listed companies

Traders monitor stocks at the Dubai Stock Exchange in the Dubai World Trade Center.

Traders monitor stocks at the Dubai Stock Exchange in the Dubai World Trade Center.

REUTERS/Ahmed Jadallah
UAE - Consolidated net profits of 67 companies listed on the UAE's two financial markets - Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX) - reached Dh75.56 billion ($20.5 billion) in 2019, up 16.9 per cent over the previous year.
 
Following financial data and operational performance analysis, the net profits disclosed by the 67 companies in their financial statements exceeded 2018 profits registered for the total number of listed companies (103), which reached Dh75 billion.
 
Fifteen national banks registered Dh46.86 billion in 2019, an approximate growth of 13.3 per cent compared to Dh41.36 billion in 2018, according to official data.
 
This accounts for 62 per cent of the total profits registered by the 67 listed companies, reflecting a positive streak in the country's banking sector, despite a backdrop in global markets, it stated.
 
Thirty-three of the companies, listed on the DFM reported Dh37.56 billion in profits for 2019, a 32 per cent increase compared to 2018 profits of Dh28.45 billion.
 
The ADX showed 34 of its listed companies reporting Dh38 billion in profits in 2019, a five percent increase compared to 2018 figures (Dh36.2 billion), it added.-TradeArabia News Service

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