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Abu Dhabi National Hotels reports $37m profit

Abu Dhabi National Hotels has reported a net profit of Dhs136.4m ($37m) for the first quarter of 2008 compared with Dhs134.7m earned during the corresponding period in 2007. The financial report shows the operational profit increased by 10%. Non-operational profits went down due to the impact of the global economic situation that affected the securities portfolio both locally and internationally, the company said in a statement.