Abu Dhabi – Mubasher: ADNOC Drilling Company generated $379.31 million in net profit during the first half (H1) of 2022, an annual leap of 34% from $281.58 million in H1-21.

The company posted a 13% year-on-year (YoY) growth in revenue to $1.26 billion during the January-June 2022 period, compared to $1.12 billion, according to the income statements.

The basic and diluted earnings per share (EPS) settled at $0.0237 in H1-22, versus $0.0176 in H1-21.

During the second quarter (Q2) of 2022, the net profits jumped by 19% YoY to $204.85 million from $171.77 million.

Meanwhile, the revenues amounted to $668.39 million in Q2-22, up 11% YoY from $600.83 million. The basic and diluted EPS rose to $0.0128 in Q2-22 from $0.0107 in Q2-21.

In a separate bourse filing, ADNOC Drilling's board approved an interim cash dividend distribution worth $341 million for H1-22, which will be paid during the October-December 2022 period.

Sultan Ahmed Al Jaber, Group CEO of ADNOC and Chairman of ADNOC Drilling, noted: “The board is pleased to confirm the interim dividend per share will reflect a 5% increase to 7.83 fils, bringing the first payment of fiscal year 2022 to $341 million.”

During the first three months (3M) of 2022, the UAE-based firm achieved net profits worth $175 million, higher by 59% than $110 million in Q1-21.