93% of UAE listed firms meet disclosure deadline

GETTING BETTER: Companies listed in the UAE are improving their disclosure habits. (Getty Images)

Listed companies in the UAE are improving their disclosure habits, according to research from investment bank The National Investor (TNI).

In the second quarter of the year, just six out of 57 Dubai listed companies were unable to meet their disclosure deadlines, compared with 10 in the previous quarter.

In the capital, two of the 64 listed companies failed to meet the disclosure deadline. In the first quarter of the year, all companies listed in Abu Dhabi met the deadline.

In the UAE as a whole, 93 percent of all companies met their disclosure deadlines compared with 92 percent in the preceding quarter.

“As usual, there were limited instances of pre-announcement of disclosure dates,” a TNI spokesperson said.

The average disclosure time decreased by 13 percent to 31.4 days in Dubai and by eight percent to 26.4 days in Abu Dhabi.

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