Abu Dhabi Aviation sees 66% lower net profits in H1-20
During the first quarter of 2020, the company's net profits declined by 10%
Visitors look at aircrafts during the Abu Dhabi Air Expo February 25, 2014. REUTERS/Stringer . Image used for illustrative purpose.
By Staff Writer, Mubasher
Abu Dhabi – Mubasher: The financial results of Abu Dhabi Aviation Company showed AED 47.822 million net profits for the first half (H1) of 2020, down by 66% from AED 139.398 million in the year-ago period.
The company's revenues decreased to AED 895.712 million in H1-20, compared to AED 974.064 million in the same half of 2020.
The earnings per share (EPS) settled at AED 0.17 during the first six months of 2020, against AED 0.23 in the corresponding period of the earlier year.
It is noteworthy to mention that during the first quarter (Q1) of 2020, the company's net profits declined by 10% to AED 54.266 million from AED 60.282 million in the same quarter of 2019.
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