The aggregated profit of Dubai Financial Market increased to DH 6.14bn in Q3-2014, 70% increase compared to the same period last year.
|
DFM’s quarterly Aggregated Profit since 2013 |
||
|
Growth(y/y) |
Aggregated profit (DH million)* |
Period |
|
2013 |
||
|
21% |
3737.3 |
Q1 |
|
44% |
4263.1 |
Q2 |
|
30% |
3622.7 |
Q3 |
|
84% |
5368.2 |
Q4 |
|
2014 |
||
|
46% |
5439.1 |
Q1 |
|
54% |
6562.5 |
Q2 |
|
70% |
6141.3 |
Q3 |
This increase is mainly driven by the increase of banking sector’s profit which reached DH 3.2bn or 52% of DFM’s aggregated profit for Q3.
Real Estate & Construction sector contributed about 21% of DFM’s aggregated profit for Q3.
|
Aggregated profit for DFM by sector for Q3 2014 (Dh million) |
||||
|
Sector’s contribution (%) |
Change |
September 2014 |
September 2013 |
Period |
|
52% |
%62 |
3200.9 |
1970.6 |
Banking |
|
21% |
%17 |
1318.9 |
1125.0 |
Real Estate and Construction |
|
9% |
%18 |
558.7 |
474.3 |
Telecommunications |
|
6% |
%54 |
383.2 |
249.1 |
Investment and Financial Services |
|
%5 |
%191 |
319.8 |
( 351.7 ) |
Transportation |
The net profit of the largest 10 companies in Dubai Market captured about 87% of the aggregated profit of all listed companies in the same market for Q3-2014.
|
The top ten Companies in term of profits for Q3 2014 (Dh million) |
|||
|
Y/Y Change (%) |
September 2014 |
September 2013 |
Period |
|
101% |
1562.8 |
775.9 |
Emirates NBD |
|
21% |
701.3 |
581.1 |
EMAAR |
|
56% |
676.8 |
434.8 |
Dubai Islamic Bank |
|
26% |
596.8 |
473.2 |
Mashreq Bank |
|
18% |
558.7 |
474.3 |
Emirate Integrated Telecommunications Company (DU) |
|
55% |
321.2 |
207.0 |
EMAAR MALLS GROUP |
|
21% |
309.0 |
254.7 |
Commercial Bank of Dubai |
|
22% |
247.4 |
202.7 |
Air Arabia |
|
17% |
189.1 |
161.1 |
Dubai Investments |
|
86% |
153.5 |
82.8 |
Dubai Financial Market |
DFM’s aggregated profit for the first nine months of 2014 increased 55% to DH 18.76bn compared to the same period last year.
|
DFM’s aggregated profit for the first 9 months of 2014* |
|||
|
Change |
September 2014 |
September 2013 |
Period |
|
55% |
18758.9 |
12121.1 |
Aggregated profit *(Dh million) |
The following tables indicate companies with the most increases and declines in net profit for the first nine months of 2014.
|
Top 10 Companies in terms of profit growth for the first 9 months of 2014 (Dh million) |
||||
|
Reason |
Growth (%) |
September 2014 |
September 2013 |
Period |
|
Revenue increase by 40% for the first 9 months of 2014 to Dh 188 mln compared to Dh 134.3 mln for the same period last year. |
4341% |
40.7 |
(1.0) |
SHUAA Capital |
|
The Company reported a net profit of Dh 113 mln for the first 9 months of 2014 from net investments revenue, compared to Dh 8.1mln for the same period last year. |
382% |
131.3 |
27.2 |
Al Sagr National Insurance Company |
|
Increase of trading commissions for the first 9 months of 2014 by 188% to reach Dh 664.6 mln, compared to Dh 231.1mln for the same period last year. |
246% |
621.1 |
179.3 |
Dubai Financial Market |
|
Increase of net operating income during current period to Dh 253.9 mln, compared to Dh 180 mln for the same period last year. |
228% |
45.1 |
13.8 |
AJMAN BANK |
|
Increase of gross written premiums for the first 9 months of 2014 to Dh 108.5 mln, compared to Dh 77.7 mln of the same period last year. Increase of investment revenue to Dh 9.6mln, compared to Dh 4mln for the same period last year. |
221% |
3.1 |
(2.6) |
Takaful House |
|
Increase of current period revenue by 11%, in addition to the decline of financial charges by 53%, compared to the same period last year. |
198% |
0.8 |
0.3 |
Emirates Refreshments Company |
|
Increase of property valuation by Dh 866mln and from the sale of real estate investments to reach Dh 115.9mln, compared to Dh 28.7mln for the same period last year, in addition to the decline of direct costs. |
172% |
833.9 |
307.1 |
Union Properties |
|
The Company reported incomes of Dh 148mln as a result of a settlement agreement with a financial institution. |
122% |
193.0 |
87.1 |
Deyaar Development |
|
Decline of net incurred claims by Dh 244.3mln, compared to the same period last year, in addition to the decline of general & administrative expenses by 17% to reach Dh 122.7mln, compared to Dh 148.1mln for the same period last year. |
120% |
16.0 |
(80.4) |
Islamic Arab Insurance Company (SALAMA) |
|
Decline of incurred claims to Dh 22.2mln, compared to Dh36.7mln for the same period last year, in addition to the decline of Islamic loans provision by 56% for the first 9 months of 2014. |
120% |
3.4 |
(17.4) |
Takaful Emarat |
|
The most declining companies in terms of profit for the first 9 months of 2014 (Dh million) |
||||
|
Reason |
Growth |
September 2014 |
September 2013 |
Period |
|
Decline of investment revenue for the current period to Dh 4mln, compared to Dh 20.1mln for the same period last year. |
(75%) |
6.0 |
24.1 |
Arabian Scandinavian Insurance |
|
Decline of profit margin by 21.3% for the first 9 months, compared to 26.1% for the same period last year. Increase of general & administrative expenses to Dh 85.5mln, compared to Dh 82.5mln for the same period last year. |
(70%) |
(30.1) |
(17.7) |
United Kaipara Dairies Company |
|
The Company reported non-recurring profit of Dh 41.9mln for the first 9 months of 2014, due to eliminating the Company’s stake in a subsidiary. |
(34%) |
24.9 |
37.7 |
Gulf General Investment Company |
|
Decline of profit margin by 9.6%, compared to 11.5% for the same period last year, in addition to the increase of general & administrative expenses by 5% to reach Dh 248.5mln compared to Dh 235.8mln. |
(29%) |
87.6 |
123.7 |
Drake & Scull International |
|
Increase of net incurred claims to Dh 41.3mln, compared to Dh 30.6mln for the first 9 months of 2014. Increase of commission expenses to Dh 27.6mln compared to Dh 20.7mln for the same period last year. |
(12%) |
24.4 |
27.8 |
Dubai Insurance Company |
|
Increase of general & administrative expenses to Dh 22.4mln, compared to Dh 16.2mln for the same period last year. |
(10%) |
11.7 |
13.1 |
United Foods Company |
|
Increase of net incurred claims to Dh 196.9mln for the first 9 months of 2014, compared to Dh 149.4mln for the same period last year. |
(4%) |
82.9 |
86.7 |
National General Insurance Company |
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