ADNH net profit jumps 100 per cent to AED 262m in first half of 2007

H.E. Khalifa Nasser Bin Huwaileel Al Mansoori, Chairman of ADNH, attributed the sharp increase in earnings to the group's improved performance across the main sectors of the hospitality industry, such as hotels, catering and transportation which posted a growth of 38 percent, 10 percent and 72 percent respectively, over the first half of last year. The financial report also shows that general expenses and consumptions have recorded a 27 percent decrease, helping the company achieve the record net profits.

Al Mansoori praised the company's performance and attributed the impressive results to ADNH Board's strategy, the management and employees' commitment, and support received from government bodies particularly Abu Dhabi Tourism Authority (ADTA).

"Room occupancy during this summer has increased significantly, and we expect this to reflect positively in our third quarter financial results. Catering is also experiencing a remarkable growth within and outside UAE," said Al Mansoori.

Al Mansoori added that the current financial results, together with the new hotel and resort projects undertaken by ADNH, such as JW Marriott Resort & Spa in Abu Dhabi, a five-star hotel and resort in Al Saadiyat Island and a business hotel in the Capital Center project in Abu Dhabi, all underline the company's progression into a new era of profit and asset growth.

"The construction work of Sofitel Jumeira Hotel is about to be completed and will be handed over by the end of this year. ADNH has also signed a management contract for Al Diar Barsha Hotel in Dubai. Both these projects emphasize our strategy and commitment in promoting tourism across the country and our active contribution to the UAE economy," concluded Al Mansoori.