ADX Achieves 99% in disclosure compliance of Q3 2017 financial statements

Abu Dhabi Securities Exchange (ADX) announced that it has succeeded in achieving a compliance rate of 99 percent 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.

Some 64 listed companies out of 65, local and foreign, disclosed their 3rd Quarter financial statements for 2017 within the 45 days period given.

The combined net profit of all listed companies as of 14th November 2017 has shown an increase of 20.91 percent in comparison to the same period in 2017.

The highest recorded increase was in the Energy sector with an increase of 187.74 percent, followed by the Services sector with an increase of 163.95 percent ADX thanked the following companies for being the first to promptly disclose their financial results for Q3 2017: Union National Bank, Sharjah Islamic Bank, United Arab Bank, National Bank of Umm Al Qaiwain, and Eshraq Properties.

Saif Sayah Al Mansoori, Senior Head of Listed Companies Affairs Department 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 1st quarter financial statements."