Abu Dhabi National Hotels sees higher net profits in Q1-24

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Revenues from contracts with customers increased to AED 454.76 million in Q1-24 from AED 446.62 million in Q1-23, according to the consolidated financial results

Staff Writer, Mubasher

May 12, 2024

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The net profits attributable to the owners of Abu Dhabi National Hotels hiked to AED 1.02 billion in the first quarter (Q1) of 2024 from AED 147. 64 million.

Revenues from contracts with customers increased to AED 454.76 million in Q1-24 from AED 446.62 million in Q1-23, according to the consolidated financial results.

The basic and diluted earnings per share (EPS) attributable to the equityholders reached AED 0.08 in the first three months (3M) of 2024, up year-on-year (YoY) from AED 0.01.

Total assets amounted to AED 12.70 billion as of 31 March 2024, versus AED 10.96 billion at the end of December 2023.

Last year, Abu Dhabi National Hotels recorded higher net profits attributable to the shareholders at AED 422.42 million, compared to AED 415.40 million in 2022.

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