Company News

Masar signs $82m land deal

Agreements signed with Abdulmohsin Al Rossais & Sons Group.

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Borouge profit climbs 23%

Prices, recovery boost quarterly earnings

Business

Sanad posts record revenue

Growth driven by global demand for services.

Business
Business

Meraas awards $544m contract

It has been awarded for construction of Design Quarter at d3
  • It includes the first residential community within Dubai Design District (d3), a global creative and design ecosystem.
  • Scheduled for completion by mid-2027, the Design Quarter at d3 comprises a collection of 558 apartments.
Business

Salik 2024 net profit before taxes $348m

The toll operator's revenue increased by 6% to $626 million.
  • The company said that EBITDA for the full year reached AED1.6 billion, a 13.6 percent YoY growth.
  • The Board of Directors proposes a dividend of AED619.8 million to be paid during H1 2025 (equivalent to 8.2645 fils per share).
Business

ADNIC okays 45% dividend for 2024

The company achieved its highest ever revenue and net profit.
  • As a result of strong underwriting and investment performance, ADNIC's net profit before tax grew by 16.3 percent year on year to AED 466.4 million.
  • Its total assets grew by 52.9 percent year on year to reach AED 11.8 billion and total shareholders equity grew by 20.6 percent for year on year to reach AED 3.5 billion.
Business

stc net profit for 2024 $6.58bn

This is an increase of 85.7 percent over the previous year.
  • Revenues for 2024 rose 5.7 percent over the previous year to reach SAR 75.893 billion, and gross profit reached SAR 37.30 billion.
  • Operating profit increased 9.6 percent over the previous year to reach SAR 14.426 billion.
Business

e& reports $2.94 billion in net profit

e&’s subscriber base rose 11.7% to 189.3m
  • The company acquired PPF Telecom’s assets, expanding into Central and Eastern Europe
  • e& announced a progressive dividend policy, aiming for USD 0.24 per share by 2026
Business

AD Ports Group 2024 net profit $484m

The Group's revenue increased 48 percent year-on-year.
  • Net profit attributable to owners grew 24 percent YoY to AED1.33 billion led by strong operating performance.
  • Total assets grew by 15 percent YoY to AED63.70 billion in 2024 while total equity increased 15 percent YoY to AED27.83 billion.
Business

TAQA net income $1.93bn in 2024

The company's revenues increased 6.7 percent year-on-year.
  • TAQA said the net income excludes one-off items (AED 10.8 billion) related to the acquisition of a 5 percent stake in ADNOC Gas.
  • The company's revenues increased 6.7 percent year-on-year to AED55.2 billion, driven by sustained Transmission & Distribution (T&D) growth.
Business

ADNOC L&S 2024 net profit $756m

The company's revenue increased by 29 percent to $3.54 billion.
  • EBITDA rose by 31 percent to $1.149 billion (AED 4.219 billion) in the same period, driven by robust performance across all business segments.
  • The Company's Q4 revenue increased by 6 percent year-on-year (y-o-y) to $881 million (AED 3.237 billion).
Business

ADNOC Distribution 2024 net profit down 7%

Minus UAE corporate tax, it would have grown by 2.4% to $725m
  • The company achieved its highest-ever (EBITDA) of $1.05 billion (AED3.86 billion), an increase of 4.8 percent year-on-year.
  • The company's Board of Directors has recommended a cash dividend of $350 million (AED1.285 billion) for H2 2024.
Business

Maaden raises $1.25bn in sukuk offering

The Sukuk were offered in a five-year and a 10-year tranche.
  • The five-year tranche of $750 million consists of 3,750 Sukuk based on the minimum denomination and total issue size.
  • Maaden said the annual return on the five-year tranche is 5.25 percent and 5.50 percent for the 10-year tranche.

Borouge profit climbs 23%

Prices, recovery boost quarterly earnings
Business

Company News

Alpha Dhabi H1 profit $1.79bn

Borouge Q2 net profit $193m

ADNOC Drilling H1 revenue $2.37bn

Eni profit falls due to dip in oil prices

Emirates NBD H1 profit $3.40bn

Latest News

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.
Business

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.
Business

Alphabet posts first $100 bn quarter

The growth was powered by cloud division buoyed by AI
Business

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Business

Nestle to cut 16,000 jobs

The company's shares shoot up 8%.
  • "The world is changing, and Nestle needs to change faster," chief executive Philipp Navratil, who took the reins of the multinational in early September, said in a statement.
  • The company published nine-month figures showing sales down by 1.9 percent to 65.9 billion Swiss francs ($83 billion).
Business

Multiply Group buys stake in ISEM

Multiply Group will hold 60.8% of ISEM.
  • Peninsula Capital and minority investors will own the remaining 39.2 percent.
  • The deal represents an expansion into packaging by Multiply Group, establishing the Group’s fifth consumer-focused vertical.
Business

Bosch to cut 13,000 jobs

This is a blow to Germany's ailing car sector.
  • The cuts, all of which will take place in Germany, represent about 10 percent of Bosch's total workforce in the country.
  • Bosch said the layoffs were needed to help make annual savings of 2.5 billion euros ($2.9 billion) in the group's automotive unit.