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Threads on regulatory news from companies
Aramex reported strong financial results for the third quarter of 2024, with an 18% year-on-year increase in revenue to AED 1.59 billion. For the first nine months of 2024, revenue rose by 11% to AED 4.63 billion, driven by growth across all product lines: International Express (10% YoY), Domestic Express (27% YoY), Freight Forwarding (22% YoY), and Logistics & Supply Chain Solutions (13% YoY). The company saw consistent volume growth, with International Express volumes up 34% and Domestic Express volumes up 18%. Gross profit for Q3 rose 11% YoY to AED 373 million, though the gross profit margin decreased to 23%. Aramex projects a full-year revenue growth of approximately 9% and expects gross profit margins to remain between 24% and 25%. The company maintains a strong balance sheet with a cash position of AED 447 million and a Net Debt-to-EBITDA ratio of 2.1x. Net profit for Q3 increased by 177% YoY to AED 26.7 million.
On Thursday, November 7, 2024, Aramex PJSC held a board meeting from 3:00 PM to 5:40 PM UAE time, with all nine board members present, achieving a 100% quorum. The meeting focused on approving the company's unaudited interim condensed consolidated financial statements for the third quarter and the first nine months ending September 30, 2024. Additionally, the board discussed the company's business updates and routine matters. The meeting results were documented by Amanda Dahdah, the Governance Officer and Board Secretary of Aramex PJSC.
The document is the unaudited interim condensed consolidated financial statements for Aramex PJSC and its subsidiaries, covering the period ending on September 30, 2024.
Al Mazaya Holding Company K.S.C. (Public) and its subsidiaries, based in the State of Kuwait, have released their unaudited interim consolidated financial information for the period ending September 30, 2024. The report includes a review of this financial information.
Resolution No. 510 of 2024 announces the temporary suspension of trading for United Fidelity Insurance Company (P.S.C) shares on the Abu Dhabi Securities Exchange (ADX) due to a Board of Directors meeting scheduled for 13:00 on November 13, 2024. Trading will be halted from that time until ADX receives the meeting results. The resolution mandates that all department heads at ADX implement this decision, and it will be communicated to the Securities and Commodities Authority (SCA), the concerned company, all ADX departments, and accredited brokers. The resolution was approved by the authorized person and issued on November 7, 2024.
Shuaa Capital PSC, headquartered in Dubai, UAE, is a licensed financial investment company regulated by the Securities and Commodities Authority. The company has scheduled a board meeting on Wednesday, November 13, 2024, at 4:30 PM. The agenda includes approving the consolidated and audited financial statements for the period ending September 30, 2024, and discussing matters related to the company's operations. The notice is addressed to Mr. Hamid Ahmed Ali, CEO of Dubai Financial Market, and is signed by Islam Mahrous, the Chief Compliance Officer.