UAE's ADNOC Distribution Company's profits fell by 14.1% to reach 511 million dirhams in the second quarter of 2020, compared to 595 million dirhams in the same quarter of last year.
According to CNBC Arabia, the company's profits for the first half of the current year fell by 22.4% to 910 million dirhams, compared to recording profits of 1.173 billion dirhams in the first half of 2019.
ADNOC Distribution revenues decreased by 45.2% in the second quarter of 2020, with revenues of 3 billion dirhams compared to 5.5 billion dirhams in the corresponding quarter of 2019.
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Commenting on the results, the Acting CEO of ADNOC Distribution said: We are proud of the measures adopted by ADNOC Distribution to address the emerging corona virus despite the exceptional circumstances faced by the market, as We continued our efforts to ensure that our services reach customers, while providing them with more options.
We have also witnessed an improvement in the quantities of fuel sold as a result of easing movement restrictions nationwide, and we have maintained our strategy for smart growth to expand our presence, and to ensure that our service network reaches all parts of the country The UAE, especially in the heart of residential neighborhoods, which previously did not have easy fueling services.
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