Latest Threads

On 30 July 2024, Borouge PLC's Board of Directors held a meeting via video conference. The Board approved the company's financial results for Q2 2024 and proposed an interim cash dividend distribution of USD 650 million (approximately AED 2.387 billion, or 7.9 fils per share) for the first half of 2024. The proposal will be considered by the General Assembly on 29 August 2024. The Board also reviewed recent company activities and projects. The notification was signed by CEO Hazeem Sultan Al Suwaidi and a copy was sent to the Securities and Commodities Authority (SCA).

Borouge Plc, a leading petrochemicals company, reported a 33% year-on-year increase in net profit for Q2 2024, reaching $308 million. This growth was driven by record production volumes, strong sales, and cost efficiencies. The company's Q2 revenue increased by 6% year-on-year to $1.5 billion, and its EBITDA margin rose to 41%. Borouge's sales volume grew by 16% quarter-on-quarter and 9% year-on-year. The Borouge 4 growth project is over 70% complete and will increase annual production capacity by 28%. The company remains committed to a $1.3 billion dividend for 2024, with a current yield of 6.5%. Borouge leveraged its competitive advantage in key markets, maintaining robust price premiums for polyethylene and polypropylene. The company achieved record production levels with high utilisation rates and maintained strong operational performance.

PureHealth reported a net profit of AED 1.0 billion for the first half of 2024, with EBITDA rising to AED 2.2 billion, a 15% increase from the previous year. Consolidated revenue grew by 53% to AED 12.5 billion, driven by the Hospitals segment and supported by organic growth and acquisitions. Despite the growth, net profit decreased by 26% year-on-year due to accounting changes, finance costs from acquisitions, and corporate income tax charges, resulting in a net profit margin of 8.0%. Significant acquisitions included Circle Health Group and Sheikh Shakhbout Medical City, while the company divested its investments in YAS Clinics Group and Abu Dhabi Stem Cells Centre. The Hospitals segment saw an 83% revenue increase and 9% EBITDA growth, attributed to higher patient volumes and strategic acquisitions. The Insurance vertical, comprising Daman, reported a 15% revenue increase and a 79% rise in EBITDA, driven by higher premiums and increased membership. Total assets increased to AED 47.6 billion, with a total cash balance of AED 7.4 billion and a net cash balance of AED 5.4 billion as of June 30, 2024.

Pure Health Holding PJSC has released its interim condensed consolidated financial statements for the period ending June 30, 2024.

Ooredoo Q.P.S.C., located at Ooredoo Tower, Building 14, Zone 61, Street 801, Al Dafna, Doha, Qatar (P.O. Box 217), held a Board meeting on 30 July 2024 at 1:30 pm. The meeting approved the Consolidated Financial Statements for the first half of 2024, ending on 30 June 2024. The company's authorized capital is QAR 5,000,000,000, and its issued and paid-up capital is QAR 3,203,200,000. The contact details include Tel No.: (+974) 4440 0400 and Fax No.: (+974) 4411 0389. The Group Chief Legal, Regulatory & Governance Officer is Hilal Bin Mohammed Al-Khulaifi. For more information, visit ooredoo.qa.

Ooredoo Q.P.S.C's consolidated financial statements for the six months ended 30th June 2024 show the following key elements: - Total non-current assets decreased by 5% to QR 38,959 million. - Total current assets increased by 2% to QR 17,385 million. - Overall, total assets fell by 3% to QR 56,344 million. - Total current liabilities dropped by 9% to QR 10,303 million. - Total non-current liabilities decreased by 7% to QR 15,211 million. - Total liabilities overall declined by 8% to QR 25,514 million. - Total shareholders' equity saw a slight increase of 1% to QR 30,830 million. For the statement of profit or loss: - Total revenue grew by 3% to QR 11,796 million. - Net operating profit rose by 13% to QR 2,912 million. - Profit attributable to shareholders increased by 4% to QR 1,871 million. - Earnings per share improved by 4% to QR 0.58. These figures indicate a general decrease in liabilities and assets, with an increase in profitability and shareholders' equity.

Ooredoo Q.P.S.C. in Doha, Qatar, has released its condensed consolidated interim financial information for the six-month period ending June 30, 2024.

Ooredoo Q.P.S.C. announced its financial results for the first half of 2024, showing solid commercial and financial performance with a 14% increase in normalized net profit. Key highlights include a 3% rise in revenue to QAR 11.8 billion, a 6% increase in EBITDA to QAR 5.1 billion, and a 1 percentage point rise in EBITDA margin to 43%. The company also reported a CAPEX spend of QAR 1.0 billion and a 6% growth in normalized free cash flow to QAR 4.1 billion. The customer base stood at 150.6 million, including IOH and excluding Myanmar. The disposal of Ooredoo Myanmar was completed on 31 May 2024, and its results are included until that date. The company is on track to meet its full-year 2024 guidance.