ADX achieves 99 per cent in disclosure compliance

Abu Dhabi: Abu Dhabi Securities Exchange (ADX) on Tuesday announced that it has achieved a compliance rate of 99 per cent 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. ADX said 64 listed companies out of 65, local and foreign, disclosed their 3rd Quarter financial statements for 2013. Ras Al Khaimah for white Cement '&' Construction Co. didn't disclose the 3rd Quarter financial statements for 2013 within the 45 days. The combined net profit of all listed companies as of 30th of September 2013 has shown an increase of 5.4 per cent in comparison to the same period in 2012. The highest recorded increase was in the Investment '&' Financial Services sector with an increase of 373 per cent, followed by the Insurance Sector with an increase of 81 per cent. Saif Sayah Al Mansouri, head of Listed Companies 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' fulfilment of their obligations on the disclosure of the 3rd quarter financial statements." – Emirates News Agency, WAM