TECOM Group, the creator of specialised business districts and vibrant communities in Dubai, reported a record revenue of AED 2.2 billion and a net profit of AED 1.1 billion for 2023, up 10% and 49% respectively from the previous year. The Group attributed its strong performance to robust demand from new and existing customers across…
All posts tagged financial results
Rio Tinto grows production and earnings, declares 177 US cents dividend
LONDON, UK: Rio Tinto, the global mining giant, has announced strong half-year results, with a 5% increase in production volumes and a 2% rise in underlying earnings. The company also declared an interim dividend of 177 US cents per share, in line with its 50% payout policy. The company said it generated net cash from…
Fertiglobe reports lower revenue amid European gas prices and shipment deferrals
ABU DHABI, UAE: Fertiglobe, the joint venture between ADNOC and OCI Global, has reported its financial results for Q1 2023, revealing a revenue of $694 million, adjusted EBITDA of $297 million, adjusted net profit of $135 million, and free cash flow of $271 million. The lower selling prices during the quarter was due to continued…
AXT Inc. to announce 2nd quarter financial results on July 27, 2021
FREMONT: AXT Inc., a leading manufacturer of compound semiconductor substrates, will announce its financial results for the second quarter 2021 in a press release immediately following the close of market on July 27, 2021. The company will also host a conference call to discuss these results on July 27, 2021 at 1:30 p.m. PT. The…
Dubai Islamic Insurance & Reinsurance Company posts 100% earnings growth
DUBAI: Dubai Islamic Insurance & Reinsurance Company (Aman), the pioneering UAE Takaful Insurance provider, announced its financial results for the first quarter of 2021. Aman reported a net profit attributable to shareholders of AED 6.4 million in the first quarter of 2021, registering a significant increase of 100.8% compared to AED 3.18 million in the…
Ithmaar Holding posts a net profit of $8.86 million in Q1
BAHRAIN: Ithmaar Holding announced its financial results for the three-month period ended 31 March 2021 reporting a net profit attributable to equity holders of $8.86 million, compared to the net loss of $22.58 million for the same period in 2020, mainly due improvement in assets performance, lower impairment provisions compared to previous period. Earnings Per…
Gulf Navigation reports net profit of AED 79 million in Q1 2021
DUBAI: Gulf Navigation Holding announced its financial results for the period ended 31 March 2021, reporting a net profit of AED 79 million compared to a loss of AED 18 million for the same period in 2020. Despite the tremendous challenges that the company faced and the difficult economic conditions, Gulf Navigation was able to…
Amlak Finance posts net profit of AED 6 million in Q1
DUBAI: Amlak Finance announced its financial results reporting a net profit of AED 6 million for Q1 2021, compared to AED 139 million net loss in 2020. Amlak’s Q1 2021 revenues decreased by 13% to AED 62 million as compared to AED 71 million in Q1 2020 excluding fair value losses on investment properties and…
ABN AMRO nominates Lars Kramer as new Chief Financial Officer
AMSTERDAM: The Supervisory Board announces today that it intends to appoint Lars Kramer as a member of the Executive Board and Chief Financial Officer of ABN AMRO. The nomination is subject to the approval of the European Central Bank (ECB). Until the appointment of Mr Kramer becomes effective, and after Clifford Abrahams steps down on…
Seef Properties reports net profit of BD 2.71 million for the period ended 30 June 2020
MANAMA: Seef Properties B.S.C., announced its financial results for the six-month period ended 30 June 2020. The Company reported net profits and total comprehensive income attributable to the parent of BD 2.71 million for the six-month period ended 30 June 2020, compared to BD 4.72 million for the same period in the previous year, with…
Arig reported its financial results for half year ended 30th June 2019
BAHRAIN: Arig recorded consolidated net profit of US$ 9.2 million attributable to shareholders for the first half of year 2019 ended June 30, 2019 as against loss of US$ 22.4 million reported in the corresponding period last year. Arig is one of the largest Arab-owned, professional reinsurance providers in the Middle East and Africa and…