ADNH H1 profits more than double to Dh194m

Abu Dhabi National Hotels (ADNH) net profit for the first half of 2014 more than doubled to Dh194.3 million as against Dh90 million for the same period last year.

The revenues increased 13.67 per cent to Dh694.7 million during the period.

The company, listed on the Abu Dhabi bourse, said its earnings per share jumped to Dh0.19 from Dh0.09.

The Hotel Division recorded a net profit of Dh78.35 million while the catering division booked a profit of Dh45.72 million, the Transport Division made a net profit of Dh12.58 million and Retail Services Division recorded Dh33.58m net profit in H1 2014.

Net operating income increased by Dh87 million due to the sale of investments, it said in a statement to Abu Dhabi exchange.

The company own 7 hotels in the UAE.
 

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