Abu Dhabi - Mubasher: A total of 110 listed companies in the Abu Securities Exchange (ADX) have secured profited worth AED 31.9 billion during the first half of 2017, compared to AED 32 billion in H1-16.

The positive financial results announced by national banks for the first six months of the year are fairly good given the unsatisfactory performance made by some companies whose profits declined after they had reconsidered some of their investment plans, as reported by the Emirates News Agency (WAM).

The banking sector's profits account for 59.5% or AED 19 billion of the total gains made by the listed companies which disclosed their H1-17 financial statements.

In more detail, 12 banks listed on ADX secured profits of AED 11.22 billion, with a growth in profits of 2.3% from AED 11 billion in the first half last year.

Meanwhile, seven banks listed on the Dubai Financial Market (DFM) made profits of AED 7.87 billion, an increase of 7.8% from AED 7.3 billion in the same period last year.

As for the telecommunications sector, net profit of AED 4.9 billion was secured, accounting for 15.3% of the total gains made during the first half of the year, with the property sector profit standing at AED 3.8 billion or 11.9 % of the total.