Ad­noc Distri­bu­tion re­ports strong growth in Q1

The Gulf Today - Business - - UAE -

ABU DHABI: Ad­noc Distri­bu­tion HAS RE­LEASED Its inan­cial re­sults For THE irst quar­ter of 2018, with strong dou­ble-digit growth in net proit AND EBITDA As well As Im­pres­sive Growth In Gross proit in its con­ve­nience store busi­ness.

Gross proit For THE pe­riod in­creased 14.3 per cent com­pared to the same pe­riod last year to Dhs1.185 bil­lion, EBITDA has grown by 24.9 per cent to DHS702.8 mil­lion, AND net proit was Dhs542.2 mil­lion, up by 12.1 per Cent Com­pared to THE irst quar­ter of 2017.

In ad­di­tion, a strong dis­ci­pline of Cost EFICIENCY HAS BEEN Fur­ther em­bed­ded across the busi­ness in THE irst quar­ter, WHICH puts THE com­pany on track to hit its cost re­duc­tion tar­get for 2018.

Ad­noc Distri­bu­tion’s Act­ing CEO, Saeed Mubarak Al Rashdi, SAID: “AD­NOC Distri­bu­tion’s irst quar­ter re­sults il­lus­trate a com­pany that Is inan­cially strong AND HAS laid a solid foun­da­tion for fur­ther growth, with its fuel, non-fuel and Cost EFICIENCY INI­TIA­TIVES. A strong AND proitable AD­NOC Distri­bu­tion is good for share­hold­ers, but it’s also good for cus­tomers and the UAE as it al­lows the com­pany to con­tinue in­vest­ing in crit­i­cal in­fra­struc­ture, tech­nol­ogy and hu­man cap­i­tal that sup­ports the coun­try’s de­vel­op­ment.”

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