Business Services Industry
UAE: ABU DHABI NATIONAL HOTELS COMPANY POSTS 13% PROFIT.(Brief Article)
IPR Strategic Business Information Database, April, 2005
According to Al-Bayan newspaper (April 14, 2005), the Abu Dhabi National Hotels (ADNH) posted Dh 237.6 million net profits last year, an increase of 13% compared with 2003. The ordinary and extraordinary general assembly of ADNH held in Abu Dhabi yesterday ratified the company's 2004 results, and approved the distribution of 40% in cash dividends and 20 per cent in bonus shares.
The earnings per share rose from Dh 7.01 to Dh 7.92 in the same period. The total shareholders' equity grew by 30% to reach Dh 1.72 billion by the end last year compared to Dh 1.33 billion in 2003.
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