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74 firms on DFM, ADX generate AED 31 mln in H1 profit

74 firms on DFM, ADX generate AED 31 mln in H1 profit
The net profit for 74 companies listed on the Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX) leapt to AED 30.8 billion during the first half of 2014, recording a growth by 28% compared to figures from H1-13.

An analysis by Al Bayan newspaper showed that the profitability of 28 companies listed on the DFM reached AED 11.22 billion by the end of June, recording a significant increase by 49.36%. Meanwhile, net profit for 46 ADX-listed firms reached AED 19.5 billion, registering an 18.3% growth compared to the first six months of 2013.

The banking sector continued to hold the largest stake of 55.7% of total net profit of companies included in the analysis, as the profitability of 20 national banks hit AED 17.1 billion during H1-14, compared to AED 14.1 billion in H1-13, registering a growth by 21%.