The companies operating in the services sector listed in the financial markets maintained their activity during the year 2020, supported by the increase in demand for their products, which enabled them to maximize their revenues, as shown by the annual financial statements issued by them.
According to these financial statements, the total revenues of 8 companies operating in the services sector and listed in the local capital markets amounted to about 9.44 billion dirhams during 2020.As for the level of net profits for these companies, they reached about 1.52 billion dirhams, an increase of 1.8% compared to the net profits they achieved in the year 2019.
While the net profits of 6 companies listed in the services sector on the Abu Dhabi Stock Exchange reached about 966 million dirhams last year, the profits of two companies listed in the same sector in the Dubai Financial Market reached about 558 million dirhams.
The service activities practiced by the sector companies vary and include medical services, tourism, hotels and other services that have increased demand despite the slowdown in service activities in all countries of the world as a result of the Corona pandemic.
It is expected that the sector will continue its activity during the year 2021, with the support of the continuous improvement of demand for this type of services in the UAE.