ADNOC Logistics and Services PLC's profits during the year 2023 jumped by 138 percent on an annual basis, according to a disclosure to the Abu Dhabi Securities Market.
ADNOC Logistics achieved a profit of $620.2 million by the end of 2023, compared to profits of $260.7 million achieved during the same period in 2022.
The disclosure showed that revenues increased by 41 percent during the fourth quarter compared to revenues for the same period of the previous year, in addition to an increase in other revenues to reach $10.9 million compared to $1 million during 2022.
He showed an increase in the share in the profits of a joint project to reach $14.1 million compared to $2.0 million during the first nine months of 2022, and a decline in financing costs by 61% to reach $15.1 million compared to $38.5 million during the year 2022.
The profits of ADNOC Logistics and Services PLC jumped by 162 percent by the end of the first nine months of this year, compared to the profits of the same period last year.
It achieved a net profit in the first nine months of 2023 of 1.671 billion dirhams ($455 million); The equivalent of 0.23 dirhams ($0.06) per share, compared to net profits amounting to 635 million dirhams ($173 million) at the end of the first nine months of 2022.
