ADX gets 97% compliance in disclosures of first qtr results

Tuesday, May 17, 2016

Abu Dhabi: The Abu Dhabi Securities Exchange (ADX) announced that it has succeeded in achieving a compliance rate of 97 per cent regarding the disclosure of the 1st quarter financial statements of its listed public joint stock companies within the deadline of 45 days from the end of the fiscal period.

ADX said that 64 listed companies out of 66, local and foreign, disclosed their first quarter financial statements for 2016, while the combined net profits of all listed companies have shown a 2 per cent increase in comparison to the same period in 2015. The highest recorded increase was in the insurance sector with an increase of 32.5 per cent, followed by the real estate Sector with an increase of 16 per cent.

“The collaboration between ADX and its listed companies has always proved to be a productive one. We can clearly see the positive impact of this cooperation through the companies’ fulfilment of their obligations on the disclosure of the 3rd quarter financial statements,” Saif Sayyah Al Mansouri, Head of Listed Companies Department at ADX, said in a statement.

Staff Report