Thu 13-02-2020 13:29 PM
ABU DHABI, 13th February, 2020 (WAM) -- Consolidated net profits of 67 companies listed on the UAE's financial markets reached AED75.56 billion in 2019, an increase of 16.9 percent compared to 2018.
Following financial data and operational performance analysis, the net profits disclosed by the 67 companies in their financial statements have exceeded 2018 profits registered for the total number of listed companies (103), which reached AED75 billion.
Fifteen national banks registered AED46.86 billion in 2019, an approximate growth of 13.3 percent compared to AED41.36 billion in 2018. These reported profits compose 62 percent of total profits registered by the 67 listed companies, reflecting a positive streak in the country's banking sector, despite a backdrop in global markets.
Thirty-three of the companies, listed on the Dubai Financial Market, DFM, reported AED37.56 billion in profits for 2019, a 32 percent increase compared to 2018 profits of AED28.45 billion.
The Abu Dhabi Securities Exchange, ADX, showed 34 of its listed companies reporting AED38 billion in profits in 2019, a five percent increase compared to 2018 figures (AED36.2 billion).