UAE: NCTH’s profits shrink 49% in 2022 initial results

The ADX-listed company generated revenues worth $194 million during the January-December 2022 period

Staff Writer, Mubasher

February 5, 2023

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National Corporation for Tourism and Hotels (NCTH) registered AED 60.46 million net profits in 2022, lower by 48.82% year-on-year (YoY) than AED 118.14 million.

The ADX-listed company generated revenues worth AED 712.67 million during the January-December 2022 period, an annual drop from AED 767.97 million, according to the preliminary income statements.

Meanwhile, the earnings per share (EPS) plummeted to AED 0.07 last year from AED 0.14 in 2021.

Total assets amounted to AED 2.84 billion as of 31 December 2022, compared to AED 2.88 billion a year earlier.

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