Published On: Tue, Nov 18th, 2014

ADX Achieves 96% in Disclosure Compliance

ADX Achieves 96% in Disclosure Compliance

ADX Achieves 96% in Disclosure Compliance

Abu Dhabi Securities Exchange (ADX) announced that it has achieved a compliance rate of 96% regarding the disclosure of the 3rd quarter financial statements of its listed public joint stock companies within the deadline of 45 days from the end of the financial period.

63 listed companies, local and foreign, disclosed their 3rd Quarter financial statements for 2014 within the 45 days period given, an ADX press release said today.

The combined net profit of all listed companies as of 30th of September 2014 has shown an increase of 17.8% in comparison to the same period in 2014. The highest recorded increase was in the Investment & Financial Services sector with an increase of 550.4%, followed by the Energy sector with an increase of 52.9%.

Mr. Saif Sayah Al Mansouri, head of Listed Companies and acting head of Media at ADX commented: “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’ fulfillment of their obligations on the disclosure of the 3rd quarter financial statements.”

Source : WAM News Agency for United Arab Emirates

About the Author

Web Development CompanyTechyPros