Abu Dhabi – Mubasher: Abu Dhabi National Hotels reported net profits of AED 253.04 million during 2019, up by 5% from AED 241.18 million in the prior year.
The Emirati hospitality firm’s operating revenues amounted to AED 1.403 billion last year, compared to AED 1.135 billion in 2018, the company said in a statement to the Abu Dhabi Securities Exchange (ADX) on Tuesday.
In addition, the company’s board of directors recommended a cash dividend distribution of 14% of the company’s capital for 2019’s earnings.
The proposal is still pending shareholder approval at the coming general meeting on 24 February.
It is noteworthy that during the first nine months of 2019, the company’s net profits fell to AED 138.058 million, compared AED 154.681 million in the corresponding period a year ago.
