stock abu dhabi SKYLINE
Abu Dhabi's calibrated expansion of its tourism and hospitality choices sure lit up ADNH's 2022 financials. And shareholders will be pleased with the Dh400 million payout. Image Credit: WAM

Dubai: Abu Dhabi National Hotels cashed in on the UAE’s fast bounce back from Covid disruptions, to deliver a strong 52 per cent increase in 2022 net profit to Dh415 million. Revenue increases were equally impressive, by 35 per cent, to Dh1.46 billion from Dh1.08 billion.

The company confirmed it will be handing out Dh200 million in cash and another Dh200 million as stock dividends for 2022, representing 40 per cent of the share capital and 96 per cent of 2022’s net profit.

ADNH’s hotels turned in revenues of Dh1.21 billion from Dh873 million, with the profit tally at Dh281 million. For 2023, “We are confident in our ability to continue delivering outstanding results while also being prepared to adapt to potential challenges posed by the global and regional economy,” said Sheikh Saif Bin Mohammed Bin Butti Hamed AlHamed, Chairman, in a statement.