AED 31.85 billion profit of 36 listed companies during the first half

38 companies listed on the Dubai Financial Market and the Abu Dhabi Securities Market (ADX) announced their results in the first half of 2019. Thirty-six companies posted a profit of AED 31.85 billion, a growth of 13% compared to the first half of 2018, .

Profit and loss

Dubai Refreshments Company achieved the highest growth rate of 180.7%, after a profit of AED 30.88 million compared to AED 11 million in the same period last year, followed by Amlak Finance by 76.44% and Dubai Insurance by 49.38%.

17 companies recorded a decline in profits, led by the «Code», which reached a profit of 117 thousand dirhams, compared to 24.97 million dirhams during the corresponding period of 2018, followed by Gulf Cement Company fell by 84.5%, and Ishraq Investment by 72.9%.

Both Finance House and Fidelity lost losses to AED 4.951 million and AED 0.737 million respectively.

Emirates NBD continues to maintain its top position in the first half of this year with AED 7.482 billion, a 49.1% growth, followed by Abu Dhabi First Bank with AED 6.32 billion, while Emirates Telecommunications Group posted a net profit of AED 4.44 billion .

«Dubai Financial»

On the other hand, the Dubai Financial Market index rose by 1.7% during the week, and closed at 2900.39 points. All sectors, excluding the Telecommunications sector, were the least gainers, plunging 0.18% and the Industrial sector that gained by 8.33%.

Arabs and nationals headed towards sell at AED 40.848 million and AED 107.089 million respectively. GCC and foreign investors were net sellers at AED 109.18 million and AED 38.75 million respectively.

Institutions were net buyers at AED 213.97 million, with individuals and other investors selling AED 209.97 million and AED 4 million respectively. The Abu Dhabi Securities Market index declined by 2.9% last week to close at 5230.22 points.

Nationals tended to sell at AED 154.34 million, with Arabs, Gulfs and foreigners buying AED 2.4 million, AED 20.4 million and AED 131.5 million respectively. Institutional investors continued to buy into the market with a net profit of AED 43.9 million, while individuals tended to sell at the same value.