Business
Al Ansari 9M profit US$105m
The operating income of the group rose to US$234 million.
- Al Ansari received shareholders’ approval for the proposed interim dividend payment of $81 million.
- The second payment of the dividend of an equivalent amount will be disbursed in April 2024.
Business
Emirates Group H1 net profit $2.7bn
The profit was 138% higher than the $1.2 billion in H1 2022.
- Group revenue was AED67.3 billion ($18.3 billion) for the first six months of 2023-24, up 20 percent from AED56.3 billion ($15.3 billion) last year.
- Overall profit for dnata is AED709 million ($193 million), compared to the same period last year's AED236 million ($64 million).
Business
ADIB issues green sukuk
The final orderbook of the green sukuk closed at $2.6 billion.
- The issuance was met with exceptional demand, attracting interest from over 100 global and regional investors.
- ADIB intends to allocate an amount equal to the net proceeds of this issuance to fund eligible green projects.
Sony hikes annual sales outlook
The company net profit for July-September sank 29 percent
- Sony saw net profit hitting $5.8 billion in the year to March 2024, up from the previous projection of 860 billion yen
- Annual sales were seen at 12.4 trillion yen, compared with a previous estimate of 12.2 trillion yen
Business
Dana Gas 9M net profit $126m
Profitability dropped 22% due to lower realized prices.
- The decline in profitability was also due to additional discounts on condensate sales in the Kurdistan Region of Iraq (KRI).
- The Company’s revenue for the first nine months of the year decreased 21 percent to AED 1,195 million ($326mm).
Business
Amlak Q3 net profit AED $73m
Amlak's total income for the third quarter decreased by 19%.
- Revenues from financing business decreased by 10 percent to AED 90 million during Q3 2023 as compared to AED 100 million in Q3 2022.
- The company recorded a net gain of AED 174 million on debt settlement arrangements and was able to reduce its debt burden by AED 531 million.
Business
Rabigh 9M net loss $879m
The firm said unfavorable market conditions affected margins.
- In addition, Petro Rabigh complex was partially shut down for scheduled turnaround of its Phase II units starting Dec. 1, 2022, to Jan. 23, 2023, according to Argaam.
- The company narrowed Q3 2023 loss to SAR 1.14 billion from SAR 1.41 billion a year earlier, mainly due to improved refined products margin
Business
Zain posts highest-ever quarterly revenue
Tower infrastructure sale among factors responsible for the performance.
- The Q3 report also reveals a net profit of SAR 285 million, showcasing a growth of 234 percent compared to the corresponding period in 2022.
- The company said it has not only experienced growth in 5G revenue but also witnessed increased demand for consumer services.
Business
IHC 9M net profit $4.13bn
The Group's third-quarter revenues grew by 9.5 percent.
- In Q3 2023, IHC grew its total assets by 3.3 percent and reduced total liabilities by 1.3 percent (compared to December 2022).
- The Group intends to remain focused on optimizing its balance sheet and improving shareholder returns, IHC said in a statement.
Business
Amanat net profit up 73%
The company posted a 44 percent growth in revenues for 9M-period.
- Revenu growth was driven by strong performance at the Education platform up more than two times, boosted by contribution from the recently acquired Human Development Company.
- Amanat reported an increase in EBITDA by 65 percent year-on-year to AED173.7 million in 9M 2023, on track to significantly exceed the AED188 million recorded in full year 2022.
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The company achieved its highest ever revenue and net profit.
Business
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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.