Abu Dhabi – Mubasher: Abu Dhabi National Hotels (ADNH), which is listed on the Abu Dhabi Securities Exchange (ADX), reported a 3% year-on-year profit decline during the full-year 2018, registering AED 241 million against AED 248 million.
ADNH’s revenues slid 11% to AED 1.135 billion from January to December 2018, compared to AED 1.275 billion in 2017, according to a statement to the ADX.
In January, ADNH inked an AED 1.6 billion term loan facility with First Abu Dhabi Bank (FAB) for financing the acquisition of hotel properties in the emirate of Dubai.
The Emirati hospitality firm last posted a 17.2% year-on-year profit decrease to AED 13 million for the third quarter of 2018, compared to AED 15.7 million.
ADNH’s profits grew 9% to AED 154.7 million in the nine-month period ended last September, against AED 141.4 million in the corresponding period of 2017.
