Profits of 65 domestic and foreign companies listed on Abu Dhabi Securities Exchange (ADX) in the first quarter of 2017 have reached 12 billion Dirhams, growing by %19, compared with 10.4 billion Dirhams in Q1 of 2016.
In the Banking sector, 14 banks gained 5.825 billion Dirhams of profits, representing %48.5 of total profits for companies listed on ADX, and growing by %6.6 in profits compared with 5.464 billion Dirhams in Q1 of 2016.
In the Telecommunications sector, 3 domestic and foreign companies gained 3.1 billion Dirhams of profits in the first quarter, whereas profits in the Services sector reached 1.61 billion Dirhams, and 207 million Dirhams of profits in Insurance sector.
Meanwhile in the Real Estate sector profits reached 681 million Dirhams, growing by %1.26 compared with 673 million Dirhams in Q1 of 2016. Profits of the Energy sector reached 269 million Dirhams.
Profits of the Investment and Financial Services sector reached 116 million Dirhams, and reached 143 million Dirhams for the Industrial sector, and 112 million Dirhams for the Consumer Stables sector.
The Services sector scored the highest percentile growth in profitability in the first quarter with %444.23, followed by the Energy sector (%159.38), Insurance sector (%16.24), Banking sector (%6.62), and Real Estate sector (%1.26).