Economic Research | Country Risk Weekly Bulletin | Country Risk Weekly Bulletin 552 | Earnings of Abu Dhabi companies up 6%, profits of Dubai firms up 42% in first half of 2018 | Lebanon | Byblos Bank

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Byblos Bank

Country Risk Weekly Bulletin 552

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Earnings of Abu Dhabi companies up 6%, profits of Dubai firms up 42% in first half of 2018

The net income of 64 companies listed on the Abu Dhabi Securities Exchange totaled AED20.2bn, or $5.5bn, in the first half of 2018, constituting an increase of 5.6% from AED19.2bn or $5.2bn in the first half of 2017. Listed banks generated net profits of $3.2bn and accounted for 59.2% of the total earnings of publicly-listed firms in the first half of 2018. Telecommunication companies followed with $1.4bn (25.5%), then real estate companies with $313.8m (5.7%), insurers with $132.8m (2.4%), services firms with $104.1m (1.9%), energy companies with $98.9m (1.8%), investment & financial services institutions with $70.3m (1.3%), industrial firms with $67.2m (1.2%) and consumer goods firms with $51.1m (0.9%). In parallel, the cumulative net income of 62 companies listed on the Dubai Financial Market totaled AED20bn, or $5.4bn, in the first half of 2018, constituting an increase of 42.4% from AED14.1bn or $3.8bn in the same period of 2017. Listed banks generated net profits of $2.8bn, or 51% of total net earnings in the covered period. Real estate & construction companies followed with $1.9bn or 35.1% of the total, then telecom firms with $259.5m (4.8%), transportation companies with $242.1m (4.5%), investment & financial services institutions with $120.1m (2.2%), insurers with $105.4m (2%), industrial firms with $91.7m (1.7%) and services firms with $63.5m (1.2%).  
Source: KAMCO
 
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