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NCTH’s net profits shrink in 9M-23 interim results

NCTH’s net profits shrink in 9M-23 interim results
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-1.20% 2.47 -0.03

Abu Dhabi – Mubasher: National Corporation for Tourism and Hotels (NCTH) achieved net profits valued at AED 40.85 million in the first nine months (9M) of 2023, down from AED 40.57 million in 9M-22.

Operating revenue hit AED 485.59 million in 9M-23, an annual drop from AED 535.07 million, according to the interim financial results.

In January-September 2023, the basic and diluted earnings per share (EPS) remained unchanged at AED 0.05.

The company reported total assets worth AED 2.82 billion in 9M-23, versus AED 2.83 billion as of 31 December 2022.

Financials for Q3-23

During the third quarter (Q3) of 2023, the ADX-listed firm recorded lower net profits at AED 4.98 million, compared to AED 12.34 million in the year-ago period.

The revenues plummeted to AED 151.77 million in Q3-23 from AED 155.37 million in Q3-22, while the basic and diluted EPS hit the same value of AED 0.01.

In the six-month period that ended on 30 June 2023, NCTH generated AED 35.87 million in net profit, higher year-on-year (YoY) than AED 28.22 million.