Abu Dhabi securities exchange achieves 98.5% in disclosure compliance

Abu Dhabi Securities Exchange (ADX) announced that it has succeeded in achieving a compliance rate of 98.5 per cent regarding the disclosure of the financial statements of its listed public joint stock companies in the 2nd quarter of 2013 within the deadline of 45 days from the end of the financial period. 64 ADX listed companies out of 65, local and foreign, disclosed their financial statements for the 2nd Quarter of 2013 within the 45 days period given. Sudatel Telecom Group Limited did not disclose its financial statement for the 2nd Quarter of 2013. It is worthy to note that the combined net profit of all listed companies as of 30th of June 2013 has shown an increase of 8 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 336 per cent, followed by the Real Estate sector with an increase of 63 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 look forward to further deepening our cooperation in the future."