The company also posted a 14 percent increase in Group revenues to AED38.7 billion during the period
earnings
Latest in earnings
Abu Dhabi
Fertiglobe flush with cash as quarterly revenue reaches $1.32 billion
The Abu Dhabi company is firmly in the black in past 21 months and gives strong guidance for the near future; announces $700 million dividend, payable April next year
commodity prices
Saudi Arabian Mining Company posts 71% jump in net profit to reach SAR 2.7 billion in Q3, 2022
The company’s sales also registered a 50 percent rise in Q3 2022 to reach SAR 10 billion
earnings
As profit soars spurred by service revenues, EITC becomes a debt-free company
Owner of du and Virgin Mobile reports 12.7 percent increase in net profit to AED319 million for Q3 2022; mobile subscriber base grows 14.7 percent to 7.4 million
Abu Dhabi
Borouge posts strong Q3 numbers despite challenging global conditions
With strong cash conversion and a positive outlook driven by Asian and Middle East markets, the company commits to pay at least $1.3 billion dividend for 2023
Capital Markets
Increased trading and new IPOs help DFM’s net profit surge to $24.83 million
Market capitalisation of listed securities increased 40 percent to AED575.5 billion
earnings
Meta’s stock hammered down by 24.6% after weak third-quarter results
Sales shrank by 4 percent compared with the same period a year earlier; Net profit at $4.4 billion is 52 percent lower than the $9.2 billion made a year earlier
Abu Dhabi
Abu Dhabi-based Daman records 84% growth in profits in three years
Includes 14 percent increase in overall earned instalments compared to 2020; also managed an 18 percent reduction in operational expenses despite 80 percent increase in paid claims
banking business
Emirates NBD reports profit rise of 25% to AED9.1 billion
The company reported the profit jump for the first nine months of 2022
Dubai
TECOM Group reports 51% increase in net profit to $173.9 million
The company attributes profit rise to a sustained increase in occupancy rates
Abu Dhabi
Abu Dhabi Islamic Bank’s net profit soars to AED1 billion in July-September 2022 quarter
The bank also registered a 53 percent increase in the net profit for the first nine months of this year to AED2.45 billion from AED1.6 billion in the corresponding period of 2021
banking business
UAE banking major Mashreq posts AED2.6 billion net profit in Jan-Sept 2022
The bank’s operating income in the period increased by 24.3 percent to AED5.3 billion over the same year-ago period, driven mainly by a spike in net interest income
cloud
With its cloud business zooming 38 percent, SAP easily beats forecast
The German company said it is on track to meet full-year guidance; total revenue grew 5 percent in currency-adjusted terms to 7.84 billion euros
Dubai
Emaar mirrors Dubai’s booming real estate market, logs H1 sales of $4.81 billion
Robust property sales and growth in the performance of recurring revenue businesses saw Emaar’s first-half revenue grow 10 percent to AED13.575 billion ($3.69 billion), compared to the first half of 2021
Abu Dhabi
Despite global challenges, AD Ports Group’s net profit surges 59 percent
Revenue grows a record 35 percent year-on-year to AED1,242 million; Capex at AED1.6 billion for the quarter; Cash position of AED1.8 billion; New acquisitions and JV announced
DEWA
Empower IPO ‘under review’ as Dubai’s DEWA posts nearly $900 million in half year profits
The figure represents a 33 percent year-on-year growth. The utility provider’s first half revenue also jumped 15 percent to AED12.08 billion, which it attributes to rising energy demand in Dubai
Abu Dhabi
Abu Dhabi food giant Agthia’s half-year revenues jumps 51 percent to $544.5 million
The Groups net profit for the period grew to AED 118 million, a 74 percent increase compared to H1 2021