Abu Dhabi National Hotels (ADNH), the UAE's leading diversified hotel, tourism, transport and catering company, has posted a net profit of Dh276.7 million ($75.3 million) for the second quarter of 2008.

The figure marks a 5.6 percent increase over Dh262 million in profit recorded by the company during the corresponding period in 2007.

ADNH’s operational profit increased 27 per cent with profits from other activities down due to the impact of the global economic situation that affected the securities portfolio both locally and internationally, the company said, in a filing to the Abu Dhabi Securities Exchange (ADX). 

ADNH also stated that the coming months would see continued growth in profits due to the expected growth in the economy and tourism as well as the large number of exhibitions planned in Abu Dhabi as well as other emirates.

The growth strategy followed by ADNH’s Board, the commitment of the company’s management and employees, and the relentless support received from government bodies, particularly the Abu Dhabi Tourism Authority (ADTA), have been instrumental in the company’s ongoing success, the company said. - TradeArabia News Service