Abu Dhabi National Hotels (ADNH) PJSC has posted net profits of AED244 million for 2016, an increase of 3% on the previous year.
As a result of these figures the company will now pay out a dividend for the sum of AED100 million, which is the equivalent of 10% of the nominal value of the issued share capital.
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The company’s net profits for 2016 amounted to AED244 million, up from the AED237 million that was posted in 2015.
An ADNH spokesperson said: “The 2016 results were achieved in a very challenging market while the city continues to experience growth in supply of number of hotel rooms, expressing its commitment to deliver excellent guest experience throughout its hotels and across all sectors while growing the shareholders returns.”
ADNH’s hotel division alone posted AED844 million in total revenue and AED76 million in net profit during 2016.
The retail division generated a total revenue of AED196 million and recorded net profit of AED79 million.
The transport division posted a figure of AED294 million in total revenue and AED35 million in net profit.