Adnoc Distribution reports strong growth in Q1
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.”