{"id":94549,"date":"2024-08-06T00:00:00","date_gmt":"2024-08-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/and-more-earnings\/"},"modified":"2024-08-06T00:00:00","modified_gmt":"2024-08-06T00:00:00","slug":"and-more-earnings","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/08\/06\/and-more-earnings\/","title":{"rendered":"And more earnings\u2026"},"content":{"rendered":"

\n

ADNOC DRILLING-<\/p>\n

Adnoc Drilling saw its net income increase 29% y-o-y to USD 295 mn in 2Q<\/strong> 2024<\/strong>, according to the drilling company\u2019s financials (pdf)<\/a>. Revenues also climbed 29% y-o-y to USD 935.4 mn on the back of growth across its business segments, according to a separate earnings release (pdf)<\/a>. <\/p>\n

On a 1H basis:<\/strong> Adnoc Drilling\u2019s bottom line grew 28% y-o-y to USD 569.6 mn in 1H 2024. The company posted USD 1.82 bn in revenues for the period, up 26% y-o-y. <\/p>\n

Looking ahead:<\/strong> The company expects to benefit from the AI and tech acquisitions by Enersol \u2014 its JV with Alpha Dhabi Holding \u2014 which it expects will boost access to advanced technology and shareholder returns. <\/p>\n

Dividends:<\/strong> Adnoc Drilling\u2019s board approved interim dividends of USD 394 mn for 1H 2024, set to be distributed in the last week of August. The dividends mark a 10% y-o-y increase, in line with its upgraded dividend policy, which will see it boost dividends every year by 10% y-o-y until 2028. <\/p>\n

\n

PRESIGHT-<\/p>\n

Data analytics firm Presight saw its bottom line grow 20% y-o-y to AED 80.5 mn<\/strong>, according to its financials (pdf)<\/a>. The company\u2019s revenues increased 18.7% y-o-y to AED 341.4 mn, on the back of a boost in multi-year contracts, a favorable deployment mix, and one-month contribution from AIQ, in which it acquired<\/a> a 51% stake in June for USD 350 mn, according to its earnings release (pdf)<\/a>. <\/p>\n

In 1H 2024<\/strong>, the company\u2019s net income increased 26.6% y-o-y to AED 176.4 mn, while revenues grew 17.4% y-o-y to AED 603.5 mn. <\/p>\n

\n

ORIENT INS.-<\/p>\n

Orient Ins. saw its bottom line fall 25.8% y-o-y in 2Q 2024 to AED 115.2 mn, <\/strong>according to its financial statements (pdf)<\/a>. Revenues were up 14.6% y-o-y at AED 1.81 bn during the quarter. On a six-month basis, Orient\u2019s net income grew 10.2% y-o-y to AED 415.5 mn in 1H 2024, while revenues grew 21% y-o-y to AED 3.6 bn.<\/p>\n","protected":false},"excerpt":{"rendered":"

Adnoc Drilling, Presight, and Orient Ins. report 2Q 2024 earnings<\/p>\n","protected":false},"author":1,"featured_media":94550,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1596],"tags":[57,104,237,7,1017,1018],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-94549","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-adnoc","tag-adnoc-drilling","tag-earnings-watch","tag-enterpriseam-uae","tag-orient-insurance","tag-orient-takaful","wpautop","entry"],"acf":{"mongo_id":"0bdb62c4-f8e9-4cb9-92f2-432f05030e9c","order":"11","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/434.jpg","photo_position":"above","homepage_title":"","full_issue_title":"And more earnings\u2026","related_issue":[94529],"teaser":"Adnoc Drilling, Presight, and Orient Ins. report 2Q 2024 earnings","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.01c2972b-3f19-4d9a-b3f1-f10462a35d75.mp3"},"yoast_head":"\nAnd more earnings\u2026 - 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