Revenue up 24% to $886 million; EBITDA up 31% to $437 million; Board proposes new enhanced progressive dividend policy
Equities
Emirates announces record profit of over $5bn in 2023-24
Emirates profits reached AED18.7 billion, showing a 71 percent increase, Sheikh Ahmed said via X
Dubai
Saudi Arabia dominates IPO activity in MENA region
Saudi Arabia braces for a continued IPO rush after dominating activity in the region during Q1, with several additional companies announcing their intentions to list
US stock market to outperform other financial regions in Q2: Saxo Bank survey
The survey findings could come handy for investors to make informed decisions in the MENA region’s interconnected market landscape
DFM
Spinneys IPO: Shares jump over 9% in early trading on Dubai Financial Market
Spinneys successfully listed on Dubai Financial Market and saw immediate gains for shareholders
EY
UAE and Saudi Arabia IPOs hit $1.2bn in funding in Q1
MENA IPO activity remained strong in Q1 with 10 offerings between UAE and Saudi Arabia
Abu Dhabi
ADNOC L&S revise earning guidance upwards after solid Q1 numbers
Revenue increases 42% YoY to $840 million with EBITDA up 44%; Net profit increases 34% to $193.9 million
Dana Gas
Dana Gas Q1 profit dips on lower hydrocarbon prices
Net profit down 24% to $38 million compared to $50 million last year; Revenue at $97 million
Apple
Apple announces record $110 billion buyback amidst falling sales
Revenue down 4% to $90.8 billion, but beats market expectation; CEO Cook expects return to revenue growth this quarter
Dubai
TECOM profit surges to $79 million on record high occupancy levels
Group says 91% of its portfolio is occupied with more than 11,000 customers; net profit up 15%; revenue up 10% to $153.6 million
Amazon
Amazon beats market expectations with stellar Q1 results
Will invest $5.3 billion in new infrastructure Region in KSA; Sales up 13% to $143.3 billion; net income triples to $10.4 billion
DFM
Spinneys IPO: Massive demand sees supermarket giant valued at $1.5bn as offering oversubscribed by 64 times
Spinneys sees $19bn of interest from local, regional and international investors ahead of IPO
Dubai
Spinneys increases retail offering of IPO to 63 million shares
Total size of the IPO remains unchanged at 900 million shares; Institutional investors offering now reduced to 93%
Samsung
AI-led demand lifts Samsung’s operating profit by 933%
Korean giant reports revenue of $52.3 billion, up 12.81%, and operating profit of $4.79 billion
Abu Dhabi
Aldar Group net profit jumps 88% as home sales remain strong
Revenue up 83 percent at $1.52 billion; Sales up 39% to $1.72 billion, and EBITDA was up 90% at $490 million
Dubai
Spinneys, LuLu’s IPOs to set right tone for other private family-owned businesses to follow suit, say analysts
Until now, most listings in the UAE were from government utilities and private corporations
DFM
BHM Capital receives DFM approval to launch Price Stabilization Mechanism
Spinneys, the retail chain, will be the first company to benefit from this service upon listing in the market, BHM Capital said