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AD Ports reports rise in Q1-22 profits

AD Ports reports rise in Q1-22 profits
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Abu Dhabi Ports
ADPORTS
-0.96% 5.15 -0.05

Abu Dhabi - Mubasher: AD Ports Group posted a rise in net profits attributable to the owners to AED 304.92 million in the first quarter (Q1) of 2022 from AED 216.06 million in the year-ago period, according to the company's unaudited consolidated financials.

The company's revenues jumped by 15% to AED 1.04 billion in Q1-22, compared to AED 910 million in the corresponding period of 2021.

The company's adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) increased by 34% year-on-year (YoY) to AED 524.49 million in the first three months (3M) of 2022.

The basic and diluted earnings per share (EPS) stood at AED 0.07 in Q1-22, versus AED 0.06 in Q1-21.