2023-04-28 17:34:23
Friday, April 28, 2023 – 9:32 PM
ABU DHABI, 28th April, 2020 (WAM) — The National Marine Dredging Group achieved a record growth in its net profits by 366% during the first quarter of 2023, to reach 303 million dirhams, compared to its net profit of 65 million dirhams during the same period last year.
These profits resulted from doubling revenues during the first quarter ending on March 31, to reach 3.2 billion dirhams, compared to revenues of 1.55 billion dirhams during the first quarter of 2022, a growth of 106%, which confirms the success of the group in developing its financial performance by enhancing operational efficiency and upgrading its capabilities. In the implementation of projects, and the considered investment in its fleet and capital assets.
The group had achieved record net profits during the past year 2022, amounting to 1.3 billion dirhams, compared to its net profits during 2021, which amounted to one billion dirhams.
His Excellency Mohammed Thani Murshid Ghannam Al-Rumaithi, Chairman of the Board of Directors of the Group, said: “During the first quarter, we continued to achieve exceptional growth in terms of revenues and profits, thanks to our belief in our capabilities and our keenness to implement the expansion strategy, meet the requirements of customers, and gain their increasing confidence in our capabilities. By maintaining the escalating performance And the activity of our operations and the winning of new projects, we will continue to achieve a record level of growth, with a focus on the efficiency of operations and improving levels of profitability.”
For his part, Engineer Yasser Zaghloul, CEO of the National Marine Dredging Group, said: “We are pleased to announce that the financial results for the first quarter of this year exceeded our expectations, which reflects the success of our strategic initiatives and the strength and flexibility of our business model. We are committed to achieving sustainable growth through our focus on winning projects.” new developments, expand our business into additional key markets, leverage our advanced technologies and capabilities and improve our operations to increase efficiency and profitability.”
Ahmed Al-Boutli / Ahmed Al-Nuaimi
1682713996
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