Abu Dhabi – Mubasher: The net profits attributable to the owners of National Marine Dredging Company (NMDC) hiked by 366% to AED 302.93 million in the first quarter (Q1) of 2023, versus AED 65.38 million in Q1-22.
The ADX-listed firm generated revenues worth AED 3.20 billion during January-March 2023, higher by 106% year-on-year (YoY) than AED 1.55 billion, according to the consolidated financial results.
Basic and diluted earnings per share (EPS) attributable to the shareholders hit AED 0.37 during the first three months (3M) of 2023, an annual surge from AED 0.08.
The total assets reached AED 16.82 billion in Q1-23, up from AED 16.04 billion as of 31 December 2022.
Mohammed Al Rumaithi, Chairman of NMDC, noted: “We achieved remarkable growth in terms of revenue and profitability during the first quarter.”
“Moving forward, we remain committed to reaching new heights by maintaining our upward trajectory and actively pursuing new projects, with a focus on enhancing operational efficiency and boosting profitability levels," Al Rumaithi said.
Last year, NMDC posted 30% higher net profits attributable to owners at AED 1.30 billion, compared to AED 1 billion in Q1-22.
Revenues jumped by 35% to AED 10.68 billion in 2022 from AED 7.88 billion a year earlier, while the basic and diluted EPS attributable to equityholders increased to AED 1.58 from AED 1.26.
