Economic Research | Country Risk Weekly Bulletin | Country Risk Weekly Bulletin 561 | Earnings of Abu Dhabi companies up 4%, profits of Dubai firms up 21% in first nine months of 2018 | Lebanon | Byblos Bank

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Country Risk Weekly Bulletin 561

Home Economic Research Country Risk Weekly Bulletin 561 Earnings of Abu Dhabi companies up 4%, profits of ...
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Earnings of Abu Dhabi companies up 4%, profits of Dubai firms up 21% in first nine months of 2018

The net income of 64 companies listed on the Abu Dhabi stock exchange totaled AED29.9bn, or $8.1bn, in the first nine months of 2018, constituting an increase of 3.5% from AED28.9bn or $7.9bn in the first nine months of 2017. Listed banks generated net profits of $4.9bn and accounted for 60.3% of the total earnings of publicly-listed firms in the first nine months of 2018. Telecommunication companies followed with $2.1bn (26.1%), then real estate companies with $428.7m (5.3%), insurers with $189.6m (2.3%), energy companies with $158.4m and services firms with $152.5m (1.9% each), and investment & financial services providers with $86m (1.1%). In parallel, the cumulative net income of 62 companies listed on the Dubai Financial Market totaled AED28.7bn, or $7.8bn, in the first nine months of 2018, constituting an increase of 20.9% from AED23.7bn or $6.5bn in the same period of 2017. Listed banks generated net profits of $4.1bn, or 53% of total net earnings in the covered period. Real estate & construction firms followed with $2.5bn or 31.9% of the total, then transportation companies with $418.3m (5.4%), telecom firms with $380.3m (4.9%), investment & financial services providers with $192.8m (2.5%), insurers with $170.3m (2.2%), and industrial firms with $119.4m (1.5%).
Source: KAMCO
 
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Byblos Bank S.A.L., Byblos Bank Headquarters, Elias Sarkis Ave., Ashrafieh, Beirut

List of Banks No.39, CRB:14150, BDL Authorization No. 11/231 Dated 14 May 2005

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