Abu Dhabi – Mubasher: Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) posted a 39% hike in net profit to AED 2.32 billion in the first nine months (9M) of 2022, versus AED 1.68 billion in 9M-21.
The ADX-listed firm registered revenues worth AED 23.92 billion in the January-September 2022 period, compared to AED 14.69 billion in 9M-21, according to the financial results.
Basic and diluted earnings per share (EPS) jumped to AED 0.18 in 9M-22 from AED 0.13 in 9M-21.
During the third quarter (Q3) of 2022, the net profits surged by 45% to AED 766.76 million from AED 529 million in Q3-21, whereas the revenues increased to AED 8.55 billion from AED 5.39 billion.
The basic and diluted EPS stood at AED 0.06 in Q3-22, versus AED 0.04 in the year-ago period.
Bader Saeed Al Lamki, CEO of ADNOC Distribution, said: “We have continued to demonstrate our growth trajectory, and maintained a robust cash generation with a strong balance sheet.”
Al Lamki added: “Meanwhile, the opening of our flagship service station in Dubai, has not only showcased our cutting-edge digital customer experience, but also reiterated our commitment to long-term sustainable growth and generating attractive shareholder returns.”
In the first half (H1) of 2022, ADNOC Distribution generated AED 1.56 billion net profits, higher by 35.60% year-on-year (YoY) than AED 1.15 billion.
Last September, ADNOC Distribution announced interim cash dividends at a value of AED 1.28 billion, equivalent to 10.28 fils per share, for H1-22.
