ADNH Q1 net profit rises 10pc to $40.9m
Abu Dhabi, April 30, 2009
Abu Dhabi National Hotels (ADNH) reported net profit of Dh150.7 million ($40.95 million) for the first quarter of this year, a 10,4 per cent increase over the same period last year (Dh136.4 million or $37.06 million).
The Group's operational profits rose to Dh158.7 million compared to Dh150.7 million in the same period of 2008. Non-operational profits increased to Dh15 million, up from Dh4.7 million in Q1 last year.
ADNH expects the good performance to continue in the upcoming months in tandem with Abu Dhabi’s steadily booming economy as well as the large number of events and exhibitions scheduled in Abu Dhabi, such as F1.
The company stated that the board's well-defined strategy, the management and employee’s commitment, and the relentless support received from government bodies particularly Abu Dhabi Tourism Authority (ADTA) and Etihad Airways have also been instrumental in these achievements.-TradeArabia News Service