Abu Dhabi Securities Exchange (ADX) announced today that it has succeeded in achieving a compliance rate of 100% regarding the disclosure of the annual financial statements of its listed public joint stock companies within the deadline of 90 days from the end of the financial period.
All 66 listed companies, local and foreign, disclosed their annual financial statements for 2012 within the 90 days period given.
It is worthy to note that the combined net profit of all local listed companies as of 31st of December 2012 has shown an increase of 18% in comparison to the same period in 2011. The highest recorded increase was in the Industry sector with an increase of 109%, followed by the Real-estate sector with an increase of 76%.
Mr. Saif Sayah Al Mansouri, head of Listed Companies and acting head of Media 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 annual financial statements.”