ADX achieves 97% disclosure compliance

Abu Dhabi Securities Exchange (ADX) announced that it achieved a compliance rate of 97 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.

It said 64 listed companies out of 66, local and foreign, disclosed their second quarter financial statements for 2016.

The combined net profit of all listed companies as of June 30th, 2016, has shown a decrease of -5.29 per cent in comparison to the same period in 2015. The highest recorded increase was in the Telecommunication Sector with an increase of 22.98 per cent, followed by the Real Estate Sector with an increase of 13.01 per cent.

Saif Sayah Al Mansoori, Senior Head of Listed Companies Affairs Department, said, "The collaboration between ADX and its listed companies has always proved productive. We can clearly see the positive impact of this co-operation through the companies' fulfilment of their obligations on the disclosure of the second quarter financial statements."