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Dubai Electricity and Water Authority PJSC (DEWA) reported strong first quarter results for 2024, with revenue reaching AED 5.8 billion, marking a 6.7% increase year-on-year. The company also recorded its highest ever Q1 EBITDA of AED 2.6 billion, up by 9%, and a consolidated operating profit of AED 995 million, a rise of 11.6%. Additionally, DEWA delivered an extra AED 692 million in net cash from operations, reaching AED 3.3 billion, a 26.9% increase. The company attributes these exceptional results to a high demand growth of 6.4% in electricity and 5.9% in water.

On May 9, 2024, the Board of Directors of Dubai Electricity and Water Authority (DEWA) had a meeting where they approved the company's financial statements for the first quarter ending March 31, 2024. Aside from this, the Board also reviewed and considered general business matters. The information was communicated to Mr. Hamed Ahmed Ali, the CEO of Dubai Financial Market, by Aakash Nijhawan, the Group Head of Investor Relations at DEWA.

Resolution No. (403) of 2024 temporarily suspends trading of Union Insurance Company shares on ADX due to the company's Board of Directors meeting scheduled at 10:00 on 13-May-2024, which coincides with the trading session. Trading will be suspended from 09:00 on 13-May-2024 until the meeting results are received by ADX. All department heads in ADX are required to execute this resolution in their respective fields. The resolution is to be circulated to SCA, the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution was approved by the authorized person and was issued on 09/05/2024.

Resolution No. 402 of 2024 pertains to the temporary suspension of trading on the shares of Gulf Pharmaceutical Industries. The resolution is in accordance with Article No. 16 of the Regulations concerning the listing of securities on ADX. As per the resolution, trading on JULPHAR shares will be suspended from 09:00 on 14-May-2024 until ADX receives the meeting results of the Gulf Pharmaceutical Industries Board of Directors meeting scheduled at 11:00 on the same day. The resolution instructs all department heads at ADX to execute this decision and circulate the information to SCA, the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution was issued on 09/05/2024 and has been approved by an authorised person.

Resolution No. 401 of 2024 has temporarily suspended trading of shares for Sharjah Cement and Industrial Development Co. on the ADX. This decision was made in accordance with article No. 16 of the Regulations Concerning the Listing of Securities on ADX. The suspension will be in effect from 09:00 on 14-May-2024, coinciding with the time of the company's Board of Directors Meeting. Trading will resume once ADX receives the meeting results. This resolution is to be executed by all heads of departments in ADX and circulated to SCA, the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution was approved by the authorized person and issued on 09/05/2024.

Drake & Scull International PJSC (DSI), a leader in integrated design, engineering, and development, announced its Q1 2024 financial results. The company reported a gross profit of AED 1.3 million, up from AED 1.1 million in Q1 2023. Revenue was AED 31 million, a significant increase from AED 20 million in the same period the previous year. However, the company recorded a net loss of AED 46 million, an improvement from a net loss of AED 119 million in Q1 2023. The loss was attributed to a net financing cost of AED 39 million, which is expected to be reversed upon successful completion of a restructuring process. DSI's group backlog was AED 589 million, driven by ongoing operations in overseas countries. The company's CFO announced that a restructuring process is underway and a new IPO subscription for existing shareholders has begun, with the new funds to be used in improving operational efficiency and winning new projects.