Gulf Cement Co sees revenue advance 33% YoY cemnet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cemnet.com Daily Mail and Mail on Sunday newspapers.
The DFM gained 0.99 per cent and ADX 1.98 per cent for the week ended April 8.
The top gainers were International Holding Co. (35 per cent), Gulf Cement Co (14.35 per cent), Arkan Building Materials (13.23 per cent), Zee Stores (9 per cent) and Abu Dhabi National Takaful (6.56 per cent). With a spectacular rise of 105 per cent, International Holding is the top performer so far this year.
The company s shares are supported by a string of acquisition deals that help it grow at a terrific pace. The second best was Dubai Insurance Co. with 78 per cent.
Agthia Group, an Abu Dhabi based F&B company with a market cap of Dh4.80 billion and a dividend yield of 2.51 per cent too, delivered a magnificent return of 56 per cent for shareholders. The company has a world-class portfolio of integrated businesses and brands, which include Al Ain Water, Grand Mills Flour and Yoplait Yogurt.
DNP: Abu Dhabi s F&B giant Agthia is working up an appetite for canny acquisitions gulfnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gulfnews.com Daily Mail and Mail on Sunday newspapers.
UAE-based Gulf Cement Co has posted a net loss of AED273.5m (US$74.47m) in 2020, compared to a net loss of AED26.8m in the previous year. The company’.
Asset clout
With a Dh1.75 billion market cap and $13.6 billion as assets under management, this is just a stroll in the investment park. It is divesting non-core activities and is now a lean fighting machine. As a part of its restructuring, it sold its securities and market-making businesses for Dh100 million last year.
Shuaa, which identified Dh403 million worth of non-core assets in July 2019, has reduced it by 39% to Dh245 million. By the third quarter of 2021, it hopes to dispose all non-core assets. The core divisions are asset management and investment banking.
Cost cutter
Following its merger with ADFG (Abu Dhabi Financial Group), a lot of cost synergies were achieved. As against the targetted cost saving of Dh55 million, Shuaa Capital has already touched Dh30 million. It s operating income has risen to Dh226 million in the first nine months of 2020 compared to Dh120 million in in 2019.