Browsing: Corporate Results

United Arab Emirates will impose a 15 per cent Domestic Minimum Top-up Tax (DMTT) on large multinational corporations starting January, as per the Ministry of Finance announcement. This step aligns with the OECD’s global tax framework, supported by 136 countries, including the UAE, to ensure major corporations pay at least 15 per cent in taxes and reduce tax avoidance.

TECOM Group has disclosed its financial results for the second quarter (Q2) and first half (H1) of the year ending 30th June 2024. The Group’s net profit for H1 increased by 24% to AED 603M, with revenues growing by 9% year-on-year (YoY) to AED 1.1B.

Agthia Group PJSC (“Agthia” or “the Group”) announced today that its net profit surged by 32% year-on-year to AED 127.6M. Despite facing FX headwinds and the introduction of income tax in the UAE, the Group’s net profit margin expanded by 63 basis points to reach 8.8%.

Burjeel Holdings PLC today disclosed its financial results for the three-month period ended 31st March 2024, in line with International Financial Reporting Standards (IFRS), achieving a revenue increase of 11.1 percent to AED 1.2B in Q1 2024.

Abu Dhabi-based investment firm International Holding Company (IHC) – the most valuable entity listed on the Abu Dhabi Stock Exchange (ADX) – recorded a notable 87.6 per cent surge in net profit for the first quarter of 2024, reaching AED 8B ($2.18B), alongside a 22.5 per cent uptick in revenue to AED 19.3B ($5.26B).