Net profits of the 25 largest listed companies in the UAE dropped by more than 39 per cent in the first half of 2009 compared with the corresponding period of 2008, an exclusive research by Emirates Business reveals.
According to the data, combined net profits of the top 25 companies by market capitalisation declined by more than Dh10 billion, from Dh26.32bn in first half of 2008 to Dh16.01bn, a drop of 39.15 per cent.
An uninspiring global and regional financial environment coupled with a slowdown in local economic activity has transpired into a drop in profits for a majority of the listed firms, with 18 of the top 25 firms reporting a decline in their first half profits.
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