The combined profits of companies listed in Abu Dhabi Securities Exchange and Dubai Financial Market amounted to Dh19.45 billion ($5.34billio) in Q1, which is almost the same amount booked in previous quarter, a media report said.
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The DFM-listed firms' total profits stood at Dh9.75 billion in Q1 against Dh9.73 billion in the comparable period 2018, with ADX-listed companies posting Dh9.7 billion against Dh9.75 billion in the same period last year, reported Wam.
The banking sector accounted for the largest share of net profits at Dh11.13 billion during the first three months of the year. Bank of Sharjah and Invest Bank have not disclosed their financial statements yet.
DFM-listed banks' profit surged 17 percent to Dh5.51 billion in Q1 against Dh4.69 billion in the corresponding period year before, with lenders accounting for 57 percent of the market's profits during the period.
Realty and construction sectors came second with total profits of Dh3.16 billion in Q1-2019.
At ADX, listed lenders' combined Q1 profits rose to Dh5.62 billion against Dh5.5 billion in the same period last year.
