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United Foods Company (PSC) and its subsidiaries have released their unaudited interim condensed consolidated financial statements as of September 30, 2025.
The document is the unaudited interim condensed consolidated financial statements for United Foods Company (PSC) and its subsidiaries, as of September 30, 2025.
The document is an independent auditor's review report and condensed consolidated interim financial statements for Emirates Reem Investments Company P.J.S.C. in Dubai, United Arab Emirates, covering the nine-month period ending on September 30, 2025. The statements are unaudited.
The document is prepared according to disclosure requirements for companies with shares listed on the market that have accumulated losses of 20% or more of their paid-up capital, as per the SCA Board of Directors’ Decision No. (32/R.M.) of 2019. The Islamic Arab Insurance Company – SALAMA reported accumulated losses amounting to AED 440,288,300, which is 46.86% of its paid-up capital, as of September 30, 2025. Key factors contributing to these losses include a provision of AED 288,467,043 taken in 2024 against assets linked to ongoing litigation since 2019, a provision of AED 28.02 million in 2023 for an irrecoverable reinsurance share related to a large fire claim, a goodwill impairment of AED 49 million due to the devaluation of the Egyptian pound against the UAE Dirham and inflation in Egypt, and unrealized losses on shareholder investments totaling AED 71.2 million in 2023. Additionally, provisions of AED 12.01 million were made for credit losses on other investments and receivables, in line with IFRS 9.