Abu Dhabi - Mubasher: AD Ports Group has logged net profits attributable to the owners worth AED 602.69 million during the first half (H1) of 2022, a hike from AED 402.70 million in H1-21.

Revenues amounted to AED 2.28 billion in the first six months (6M) of 2022, an annual jump of 25% from AED 1.83 billion, according to the income statements.

The basic and diluted earnings per share (EPS) rose to AED 0.12 in H1-22 from AED 0.10 in H1-21.

In the second quarter (Q2) of 2022, the UAE-based firm reported higher net profits attributable to the shareholders at AED 297.77 million, compared to AED 186.64 million in Q2-21.

The company’s revenues soared by 35% year-on-year (YoY) to AED 1.24 billion during the April-June 2022 period, versus AED 921.62 million.

Meanwhile, the basic and diluted EPS went up to AED 0.06 in Q2-22 from AED 0.05 in Q2-21.

Mohamed Juma Al Shamisi, Group CEO of AD Ports, said: “In Q2-22, we continued to invest heavily in order to deliver future growth. Moreover, we have also benefitted from the macro picture in the Gulf region, and in the UAE in particular.”

He added: “Not only have oil prices been increasing sharply, which has accelerated the country’s economic growth, including the non-oil economy, but AD Ports Group is also well-positioned to be one of the key beneficiaries of Abu Dhabi’s Industrial Strategy, which aims to more than double the size of its manufacturing sector to AED 172 billion by 2031.”

In January-March 2022, the net profits attributable to the equityholders of AD Ports increased to AED 304.92 million, from AED 216.06 million in the year-ago period.