These preliminary annual results indicate a 12 per cent decline in net profits from the previous year due to the overall performance of banking investments in local stock funds.
Operating profit increased to AED 276 Million, up 22 per cent. Revenue also increased to AED 1.2 Million, up 11 per cent. The hotel division showed strong growth, reporting net profits of AED 233 Million, up 36 per cent. Al Ghazal Transport results were also up sharply, more than doubling net profit for the division to AED 11 Million, up 107 per cent over 2005. Other income excluding securities investments increased to AED 69 Million from 60 Million the previous year.
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Abu Dhabi National Hotels reports AED 292.5 million net profits
- United Arab Emirates: Wednesday, January 31 - 2007 at 14:27
- PRESS RELEASE
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Abu Dhabi National Hotels (ADNH) today announced a net profit of AED 292.5 Million for the financial year ending December 31, 2006.
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Posted by Janeta Novakovic, Assistant News EditorWednesday, January 31 - 2007 at 14:27 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This article was updated on Fri Mar 16 2007.
Notes and Media Contacts »
Abu Dhabi National Hotels was established more than 20 years ago and since then has grown in both size and diversity into a quality, broad-based hotel, tourism, transport and catering group. ADNH interests include 3, 4 and 5 star hotels in addition to Sunshine Tours and its transportation business Al Ghazal. In addition, ADNH has a joint venture with the catering and services company Compass, covering its respective catering operations in the Middle East under the banner ADNH/Compass.
For further information, please contact:
Bob Pearce
Account Director for ADNH
Asda'a Public Relations
Abu Dhabi
Tel: 971 2 633 4133
Fax: 971 2 633 4233
For further information, please contact:
Bob Pearce
Account Director for ADNH
Asda'a Public Relations
Abu Dhabi
Tel: 971 2 633 4133
Fax: 971 2 633 4233
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