ADX listed companies profit jumped 10% in second quarter

Dubai

Net profit of companies listed on Abu Dhabi Securities Exchange (ADX) jumped 10.7 per cent during the second quarter of 2017.

The service companies recorded the highest increase in net profit during the April to June period, the ADX said in an emailed statement. Energy sector achieved the second highest net profit in the second quarter by 175 per cent.

In 2014, ADX was upgraded to ‘Emerging Market’ status by both MSCI index and S&P Dow Jones, thus greatly increasing the likelihood of inward global investment flows. ADX was already classified as an Emerging Market by FTSE in 2009 and in 2011 by S&P and Russell Investments.