November 14 deadline for Q3 financial statements: ADX

By Rajive Singh

ABU DHABI 26 October 2017: November 14th is the deadline for the disclosure of Q3 financial statements of Abu Dhabi-listed companies, according to the Annual Forum for Listed Companies hosted in Abu Dhabi by the Abu Dhabi Securities Exchange (ADX).

The forum was attended by Rashed Al Blooshi, Chief Executive of ADX, representatives from ADX’s listed companies as well as members of ADX senior management, said Wam.

The function aimed to introduce and keep partners up-to-date with the latest services and mechanisms, designed by ADX, to support listed companies’ compliance with the disclosure and transparency requirements of the market.

Rashed Al Blooshi emphasised ADX’s commitment to developing frameworks for effective joint coordination with companies listed on the market and various related parties in order to improve trading systems and long-term investment savings. He added that ADX is dedicated to ensure the companies’ readiness to meet the requirements of disclosure and transparency, which come within the framework of ADX’s commitment to support the Abu Dhabi Plan, by developing and strengthening the investment climate of the emirate and creating a flexible competitive environment for doing business.

“ADX is continually developing the services it provides to listed customers and companies, and continues its efforts to develop and launch strategic initiatives aimed at increasing market value and products in order to attract and leverage a wider range of investors. This is done in order to enhance the Nation’s investment structure and support its sustainable economic development, as part of ADX’s mission to contribute to Abu Dhabi Economic Vision 2030,” Al Blooshi said.

The forum discussed the methodology adopted by ADX in terms of financial disclosures and the significant results achieved by its listed companies, which recorded a rise in net profit during the second quarter of 2017 by 10.73 percent compared to the same period of 2016. The service sector recorded the highest increase in the second quarter of 2017 by 229.7 percent, followed by the energy sector, which increased by 175 percent in the second quarter of 2017.