The accounts of the Abu Dhabi Ports Company showed that the profit in the second quarter of 2022 increased by 59.5% to 298 million dirhams compared to 186.6 million dirhams in the same period of the previous year.
The company said in a statement that first-half profit rose 50% to 602.7 million dirhams, compared with profits of 402.7 million dirhams in the same period in 2021.
She stated that the reason for the increase in profit is due to the increase in the revenue margin to 50.6% compared to 47.1% during the first half of 2021, which is due to the increase in revenue by a greater percentage than the increase in direct costs.
She pointed out that the results for the current period included gains on the exclusion of a property held for sale of 73.2 million dirhams compared to nothing in the same period last year, and a share of the result in an associate’s result of 22.6 million dirhams. dirham compared to nothing in the same period the previous year.