Abu Dhabi – Mubasher: Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) registered net profits worth AED 1.56 billion during the first half (H1) of 2022, up 35.60% from AED 1.15 billion in H1-21.
The company’s revenues increased by 65.30% year-on-year (YoY) to AED 15.37 billion in H1-22, compared to AED 9.30 billion, according to the income statements.
Additionally, the basic and diluted earnings per share (EPS) stood at AED 0.125 in the first six months (6M) of 2022, higher by 35.60% than AED 0.092 in the year-ago period.
During the second quarter (Q2) of 2022, the net profits reached AED 891.15 million, an annual hike of 70.90% from AED 521.40 million. Meanwhile, the revenues surged by 72.10% YoY to AED 8.63 billion in April-June 2022, compared to AED 5.01 billion.
The basic and diluted EPS went up by 70.90% to AED 0.071 in Q2-22, versus AED 0.042 in Q2-21.
CEO of ADNOC Distribution, Bader Al Lamki, said: “Our entry into Egypt will mark a significant milestone in the company’s journey that will help unlock new earnings potential through a diversified portfolio, further contributing to our financial performance.”
He added: “Our investment in the network expansion, launch of new products, and innovative services cater to our customers’ needs as we deliver more modern, digitally-enabled convenience in wider locations.”
In the January-March 2022 period, ADNOC Distribution posted a 6.30% growth in net profit to AED 670.68 million, compared to AED 630.73 million in Q1-21.
