Abu Dhabi National Hotels (ADNH), the UAE-based leading hospitality group with interests in hotels, tourism, transportation and catering, reported net profits of AED 150,7 million for the first quarter of this year, a 10,4% increase over the corresponding period of 2008 (AED 136,4 million). The financial report for the period of 1st January- 31st March 2009 shows an improved performance of the Group’s operational profits, posting AED 158,7 million compared to AED 150,7 million in the same period of 2008. Non-operational profits increased to AED 15 million, up from AED 4,7 million in Q1 last year .
ADNH expects the good performance to continue in the upcoming months in tandem with Abu Dhabi’s steadily booming economy as well as the large number of events and exhibitions scheduled in Abu Dhabi, such as F1.
The company stated that the board’s well-defined strategy, the management and employee’s commitment, and the relentless support received from government bodies particularly Abu Dhabi Tourism Authority (ADTA) and Etihad Airways have also been instrumental in these achievements.