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Drake & Scull International announced its Q2 2024 financial results, highlighting a net profit of AED 3.79 billion. The company achieved this profit following the completion of a six-year restructuring plan, which included write-offs of debt, legal provisions, and bank interest totaling AED 4.1 billion. Excluding the profit from the restructuring settlement, the company reported a semi-annual net profit of AED 30 million. Additionally, the company's equity improved from a deficit of AED 4.4 billion at the end of 2023 to a positive AED 180 million by June 30, 2024. The Chairman of the Board, Engineer Shafiq Abdelhamid, expressed satisfaction with the company's return to profitability despite facing significant financial, legal, and operational challenges.
Date: 29 July 2024 Mr. Hamed Ahmed Ali CEO - Dubai Financial Market Dubai - United Arab Emirates Subject: Board of Directors Meeting Number 6 of 2024 of Drake & Scull International PJSC (the “Company”) The Board of Directors of Drake & Scull International PJSC held its sixth meeting of 2024 on Friday, 26 July 2024, at 3:00 PM at the Company’s offices. The results are as follows: 1. The Board of Directors approved the previous minutes of the meeting. 2. The Board of Directors reviewed and approved the company’s unaudited financial statement for the second quarter of 2024. 3. The Board of Directors discussed routine and operational matters of the Company. Sincerely, Dana Abualghanam Board Secretary
The weekly trading summary for DFM Regulated Short Sell Transactions from 22 July 2024 to 26 July 2024 reports that Dubai Islamic Bank (DIB) had a short sell trade volume of 700 and a short sell trade value of AED 4,179. For more details on Regulated Short Selling (RSS), refer to the DFM Market Rules and the Operational Model and Procedures for Implementation of Regulated Short Selling available on the DFM website. The announcement is also available on the DFM website. The information provided is subject to change, and DFM is not liable for any losses resulting from the use of this data.
Multiply Group PJSC has released its Directors Report and Financial Information for the three months and six months period ending on 30 June 2024. The document includes details about the company's financial performance and other relevant updates for the specified periods.
The National Bank of Ras Al-Khaimah (P.S.C.) has released its review report and condensed consolidated interim financial information for the period from 1 January 2024 to 30 June 2024.