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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

Borouge full-year net profit $1bn

Borouge shareholders approved a $650 million (7.94 fils per share) final dividend for 2024. (WAM)
  • Borouge management intends to distribute 15.9 fils per share in dividends for the full year 2024, equating to a 6.6 percent current dividend yield.
  • Fourth quarter revenue reached $1.5 billion, unchanged quarter-on-quarter and declining 6 percent on a year-on-year basis on weaker global demand.

Abu Dhabi, UAE — Borouge has reported a 16 percent year-on-year (YoY) increase in net profit in the fourth quarter of 2023 to $288 million, bringing full-year net profit to $1 billion.

The company said it maintained its performance trajectory, with fourth-quarter net profit increasing 2 percent quarter-on-quarter, marking a third consecutive increase in quarterly earnings.

Borouge’s focus on operational and commercial excellence is driving strong performance in the face of challenging global market conditions, the company said.

On the back of the company’s performance, Borouge management intends to distribute 15.9 fils per share in dividends for the full year 2024, equating to a 6.6 percent current dividend yield.

Hazeem Sultan Al Suwaidi, Chief Executive Officer of Borouge, commented, “Looking ahead, Borouge will remain agile in adapting to market dynamics and our customers’ evolving needs. Our focus centres on differentiated product development, maintaining our price premia across our products, and continuing to drive further value creation as we solidify our market-leading positions.”

He said the company intends to distribute $1.3 billion in cash dividends for 2024.

Fourth quarter revenue reached $1.5 billion, unchanged quarter-on-quarter and declining 6 percent on a year-on-year basis on weaker global demand, while costs reduced 16 percent over the same period.