#Revenue

ADNOC Drilling posts $295m in Q2 2024 net profit

Abu Dhabi’s ADNOC Drilling net profit rises 28% in Q2 2024

The company posted a quarterly net profit of $295m, a 28 per cent increase from $228m in Q2 2023

SABIC posts an 85% jump in Q2 2024 net profit

Petrochemicals giant SABIC posts 85% second-quarter profit leap

The company said its long-term focus would remain on “strategic portfolio optimisation” and restructuring underperforming assets

Empower’s annual revenue up 8.7% in 2023

UAE’s Empower posts Dhs3bn in full-year revenue

The Dubai-listed firm proposed a final dividend of Dhs425m for 2023, which will be paid by April 2024

EFG Holding posts EGP3bn in Q3 2023 revenue

EFG Holding posts EGP3bn in Q3 2023 revenue

The banking group’s net profit after tax and minority interest rose by 24 per cent to reach EGP395m

IHC quarterly revenue reaches Dhs14.2bn

IHC’s quarterly revenue reaches Dhs14.2bn

The group’s assets edged up by 3.3 per cent to reach Dhs235.6bn, compared to Dhs228bn a year earlier

Empower posts Dhs2.27bn in nine-month revenue

UAE’s Empower posts Dhs2.27bn in nine-month revenue

The cooling firm reported a net profit of Dhs685m during the period under review and paid a cash dividend of Dhs425m for the first half of 2023

FAB’s Q3 2023 profit surges by 48% on revenue boost

FAB’s Q3 2023 profit surges by 48% on revenue boost

The banking group’s operating income reached Dhs7bn in Q3 2023, a 27 per cent YoY increase compared to Dhs5.5bn in the third quarter of 2022

Saudi Arabia

Saudi Arabia forecasts slower growth, budget deficit for 2023

The largest Arab economy expects real gross domestic product to grow by 0.03 per cent this year

Air Arabia’s quarterly profit soars 187% to Dhs459m

Air Arabia’s quarterly profit soars 187% to Dhs459m

The budget carrier flew more than 3.8 million passengers between April and June

EFG Holding’s Q2 2023 revenue jumps 51% to $844m

EFG Holding’s Q2 2023 revenue jumps to EGP3.1bn

The banking group’s net profit after tax and minority interest rose by 20 per cent to reach EGP405m

Anghami reports 35.6% revenue growth, subscribers rise 21% in 2022

Anghami reports 35.6% revenue growth, subscribers rise 21% in 2022

The streaming service ended the past year with 1.52 million paying subscribers

UAE's e& reports 7.4% rise in consolidated net profit for 2022

UAE’s e& posts 7.4% rise in consolidated net profit for 2022

The group’s aggregate subscribers reached 163 million last year, increasing 2.5 per cent over 159 million in 2021

Flydubai reports 43% rise in profit for 2022

Flydubai reports 43% rise in profit for 2022

The carrier flew 10.6 million passengers across its network last year, rising 89 per cent compared to 2021

Dubai’s DIFC registers highest revenue in history

Dubai’s DIFC registers highest ever revenue in 2022

The financial centre registered the highest number of new firms – totalling 1,084 – last year

empower Dubai

Dubai: Empower’s net profit tops Dhs1bn for 2022

The company proposed a dividend amount of Dhs425m for the second half of 2022

Boursa Kuwait reports 13.3% rise in 2022 net profit

Its operating profit for the 2022 financial year came in at $73.8m, increasing 22 per cent

Dana gas

Dana Gas reports 53% rise in adjusted net profit for 2022

Revenue rose 17 per cent to reach $529m last year, compared to $452m in 2021

developer portal

Abu Dhabi Islamic Bank reports 55% rise in net profit for 2022

The lender reported revenue worth Dhs6.8bn in 2022, up 23 per cent year-on-year

UAE’s Tabreed reports Dhs400m in nine-month net profit

The group revenue increased by 13 per cent to total Dhs1.66bn for the first nine months of the year

DEWA

Dubai’s DEWA reports 21% rise in net profit for Jan-Sep 2022

By the end of the third quarter, DEWA served 1,143,153 customers, representing a 4.89 per cent year-on-year increase

Agthia

UAE’s Agthia Group reports 14% rise in net profit for Q3 2022

The group’s total assets stood at Dhs6.6bn as of September 30, 2022

Borouge

Abu Dhabi’s Borouge reports 13.5% rise in nine-month revenue

The company’s revenue for the three months ending September 30, grew 8 percent year-on-year to equal $1.67bn

Meta gives tepid revenue forecast as ad weakness persists

In the third quarter, Meta posted revenue of $27.7bn, slightly beating analysts’ average estimate for $27.4bn

ADIB reports highest quarterly net profit for Q3 2022

ADIB reports highest quarterly net profit for Q3 2022, crossing Dhs1bn

The bank registered Dhs2.45bn in net profit for the first nine months of 2022

MContent appoints new chief of streaming for global content business

Brandon Fong will drive strategic partnerships with content creators and drive Web3 integration across all product verticals

Emirates Global Aluminium

UAE’s Emirates Global Aluminium reports $1.6bn in net profit for H1 2022

The company’s revenue for the first half of the year stood at $5bn, compared to $2.9bn in H1 2021

Zoom

Zoom slumps as video-conferencing company cuts sales forecast

Fiscal second-quarter sales increased 7.6 per cent to $1.1bn

internal controls

Why internal controls are so critical for organisations

Companies should not wait for regulators to fix gaps, they would do well to proactively establish a strict internal control framework

Qatar Airways

Qatar Airways Group reports highest net profit in 25-year history

The group recorded a net profit of $1.54bn during the fiscal year 2021/22

Oracle

Oracle jumps after revenue tops estimates on strong cloud effort

Sales increased 5.5 per cent to $11.8bn in the fiscal fourth quarter, topping the average analyst estimate of $11.7bn