Abu Dhabi National Oil Company for Distribution achieved an increase in profits by 6% compared to the same quarter of last year, reaching 671 million dirhams.
According to Arab Net, the quarterly profit exceeded the average analyst expectations of 630 million dirhams, and the company attributed the profit growth to the increase in the volume of fuel sales during the first quarter by 11% on an annual basis, which is the highest ever.
The profits of the Abu Dhabi National Oil Company for Distribution increased in the first quarter of this year by 6%, compared to the same quarter of last year, to reach 671 million dirhams.
Quarterly profit exceeded average analyst expectations of 630 million dirhams.
The company attributed the profit growth to an increase in the volume of fuel sales during the first quarter by 11% year on year, the highest ever.
Adnoc Drilling recorded a quarterly profit of 642 million dirhams, an increase of 59% year-on-year, exceeding the average expectations of 610 million dirhams, due to the strong growth in all business sectors.
It is noteworthy that during its Annual General Meeting on March 24, ADNOC Distribution's shareholders approved a second half 2021 dividend of $350 million, 10,285 fils per share, paid in April 2022, bringing the total Dividends for the year 2021 to reach $700 million, 20.57 fils per share.
