ADX achieves 99% disclosure compliance

Abu Dhabi Securities Exchange (ADX) on Wednesday announced that it has succeeded in achieving a compliance rate of 99 per cent regarding the disclosure of the second quarter financial statements of its listed public joint stock companies within the deadline of 45 days from the end of the financial period.

ADX said 64 listed local and foreign companies disclosed their second quarter financial statements for 2014 within the 45-day period given.

ADX noted that the combined net profit of all listed companies as of 30 June 2014 has shown an increase of 19 per cent in comparison to the same period in 2013.

The highest recorded increase was in the investment and financial services sector with an increase of 767 per cent, followed by the energy sector with an increase of 94 per cent.

Saif Sayah Al Mansouri, Head of Listed Companies at ADX, said, "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 first quarter financial statements." 



 

Follow Emirates 24|7 on Google News.