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Abu Dhabi National Hotels expects stronger profits in 2015

Abu Dhabi National Hotels expects stronger profits in 2015
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By Ramy Sameeh

Abu Dhabi – Mubasher: Abu Dhabi National Hotels Co. is likely to achieve stronger earnings by the end of 2015, said CEO Hareb Al-Muhairi.

The company is forecasted to report strong growth in revenues from its main hotels, in addition to continued investment in renovating its current properties and boosting businesses through a recently announced structuring plan, the official told Mubasher.

“We started to achieve growth through an integrated strategy for expansion in the hotels sector, which comes in line with growing demand in the capital city and across the emirates,” said Al-Muhairi.

The company’s shareholders on Tuesday gave a nod to the distribution of cash dividends for the fiscal year 2015 at 5% of capital, or AED 50 million.

They also adopted other agenda items, including financial statements for the same period.

The hotel operator earlier posted AED 200.46 million in net profits for FY14, a decline of 6.8% from AED 215.15 million a year earlier.

Translated by Sayed Abdel Rahman