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AED31.9 Billion In H1 Net Profit By 110 National Listed Companies |
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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 profits 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. |
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