Abu Dhabi – Mubasher: National Corporation for Tourism and Hotels (NCTH) has posted a 21% year-on-year increase in profits for the first quarter of 2019.

Net profits amounted to AED 37.5 million in the first three months of 2019, versus AED 31.1 million in Q1-18, NCTH said in a filing to the Abu Dhabi Securities Exchange (ADX).

Operating revenue grew to AED 195.58 million at the end of March from AED 180.7 million in the same quarter of 2018, NCTH highlighted.

Additionally, interest income rose to AED 3.77 million in the three-month period ended last March, versus AED 2.94 million in the year-ago period, the company indicated.

Total assets reached AED 2.203 billion in Q1-19, compared to AED 2.209 billion in the prior-year period, according to the filing.

Earnings per share (EPS) stood at AED 0.05 in Q1-19, versus AED 0.04 in the same period a year earlier.

In 2018, NCTH announced it had achieved a net profit of AED 100.5 million, down 3.25% from AED 103.8 million a year ago.