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Banks, property firms still most profitable in UAE

Vicky Kapur Emirates 247
Analysis of the results of the 87 firms that have announced their Q3 financials so far reveals 20 of the Top 25 most profitable listed companies in the country. (FILE)

Analysis of the results of the 87 firms that have announced their Q3 financials so far reveals 20 of the Top 25 most profitable listed companies in the country. (FILE)


Financial services firms, including banks, insurance and investment companies, and real estate/construction companies are among the most profitable companies in the UAE, dominating the list of the Top 25 profitable entities in the country.



An Emirates 24|7 analysis of the results of the 87 firms that have announced their Q3 financials so far reveals 20 of the Top 25 most profitable listed companies in the country belong to the two sectors that have been the most impacted by the global economic slowdown.

This website analysed 101 listed companied on the Abu Dhabi (60 firms) and Dubai (41 firms) bourses and found that net profits at the 87 firms that have so far announced third-quarter results are down 15.55 per cent.

Combined nine-month net profits at the UAE’s listed firms amount to over Dh24.5 billion compared with the Dh29.02b that the same companies recorded during the first nine months of 2009.

However, as the famous proverb goes, what statistics reveal is suggestive, but what they conceal is vital.

Although profits are down year-on-year, some of the most


Source



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