25 February 2007: Audited financials released which prompted (or coincidentally there was) very heavy trading on a rising Sorouh share price. Note that income statement figures are for more than one year - the period from 26 July 2005 (inception date) to 31 December 2006, which misrepresents some rations and comparisons. Presumably this is so Sorouh could include AED 432m of IPO income in the "current" financial year, otherwise it would have been in the "previous" financial year, and profit growth would have been unimpressive.
More than half of the total profit came from a revaluation of investment properties which is hardly "real money" so to speak. There was also a substantial unrealised loss in financial assets. Share purchases by Sorouh? So far, results are underwhelming.
30 January 2007: Preliminary results say Paid-up, Subscribed, Authorised Capital all AED 2,500,000. Error? Should be AED 2,500,000,000.
CEO has changed from Mr Munir Haider (Manager)? Tel changed from +971-2-6444434 to +971-2-4440006?
No results for FY2005 - Sorouh first listed 20 Dec 2005. AGM date postponed from 18 to 25 March 2007 on same day as Sorouh foreign ownership allowance (maximum 20%) announced (06 March 2007).
Have your say in the SOROUH 2006 FY results forum topic, includes directors reports and news, if available.
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