Abu Dhabi – Mubasher: AD Ports Group achieved net profits attributable to the shareholders valued at AED 330.93 million in the first quarter (Q1) of 2023, an annual rise of 9% from AED 304.92 million.
Revenues hit AED 1.81 billion as of 31 March 2023, higher by 73% than AED 1.04 billion in Q1-22, according to the consolidated income statements.
Basic and diluted earnings per share (EPS) amounted to AED 0.07 in Q1-23, unchanged from Q1-22.
Total assets stood at AED 43.31 billion during the first three months (3M) of 2023, higher than AED 38.51 billion as of 31 December 2022.
Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports, commented: "I am thrilled to announce that our successful momentum from 2022 has carried through Q1-23, with strong financial and operational results.”
“Our investment in organic growth is bearing fruit, and the strategic [mergers and acquisitions] M&A activity we undertook has provided a further boost to our growth,” Al Shamisi continued.
He indicated: “The group’s performance across its five clusters demonstrates our strong business resilience with over 70% of Q1-23 revenue being long-term, sticky, and recurring business.”
Last year, the ADX-listed group registered AED 1.26 billion in net profit attributable to the owners, a 50% surge from AED 845.69 million in 2021.
