ID :
200652
Thu, 08/11/2011 - 12:26
Auther :

ADNH posts Dh56.75 million net profit

Abu Dhabi, Aug 11, 2011 (WAM) - Abu Dhabi National Hotels PJSC (ADNH), yesterday announced its financial results for the second quarter of 2011, ending 30th June.
In the second quarter of the current year, ADNH posted Dh452 million total revenue, and Dh56.75 million net profits, an increase of 6.25% and 7.75% respectively compared with the second quarter of last year. Net profit increased by Dh4.08 million in the second quarter compared to second quarter of the previous year and the company's total assets stand at Dh9,797 million as on 30th June 2011.
According to the financial report issued by the company, ADNH has seen strong performance and steady growth of its subsidiaries, led by its hotel, retail and catering divisions. The hotel division, which includes prominent internationally branded hotels owned by the company as well as ADNH- developed, owned and managed Al Diar Group, accounted for Dh150.56 million of total revenue, with an average occupancy rate of 71% registered in the second quarter. Fuelled by recent contract wins, the company's award-winning catering division, ADNH Compass, posted revenue of Dh205.54 million - a 10.98% growth rate over the corresponding period of last year.

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