AED 11.7 billion profits of listed companies listed on the Abu Dhabi Securities Market

Media In – Abu Dhabi 27 May 2018 / WAM /
Shares of listed companies on the Abu Dhabi Securities Exchange (ADX) rose 9% to AED 11.7 billion, compared to AED 10.8 billion in the first quarter of 2017.
Companies listed in the financial services and banking sectors in the Abu Dhabi Securities Market led the most profitable sectors in the first quarter of this year to record profits of listed companies in the financial services sector about 184 million dirhams compared to a profit of 116 million dirhams during the first quarter of 2017, a rise of 58.6% The banking sector’s profits rose by 51% to AED 6.1 billion by the end of the first quarter of this year against profits of AED 4 billion in the same period of 2017.
Abu Dhabi Securities Market (ADX) chief executive Rashid Al Baloushi said the growth in earnings of listed companies in the first quarter of this year was a confirmation of the attractiveness of listed shares in the capital market as a result of the growth in the operating and financial performance of listed companies.
He pointed out that the participating companies in the market managed to reach cash dividends of AED 23.4 billion in 2017 compared to AED 22.7 billion in 2016, an increase of 4.2%. The Abu Dhabi market offers one of the largest cash dividends in the world by 5.3% %.