Dubai, UAE — Dubai toll operator Salik has reported a net profit of AED275 million ($74.89 million) for the first quarter of 2023.
This was announced by the company during its meeting presided by Mattar Al Tayer, Chairman of the Board, on Friday.
Salik recorded the highest level of quarterly revenue-generating trips and toll usage revenue since the start of operations in 2007, at 113.6 million trips and AED454 million, respectively, the company said in a disclosure on DFM.
Toll usage revenue, which contributed 87 percent to total revenue, increased 7.9 percent YoY on the back of a return to business-as-usual in Dubai following the complete lifting of Covid-19 restrictions, as well as growth in commercial and tourist activity.
Salik achieved net profit of AED275 million during the quarter, with a net profit margin of 52.9 percent, the company said.
Al Tayer expressed satisfaction with the Company’s strong results during the first quarter of 2023. He emphasized “Salik’s position as Dubai’s exclusive road toll operator and its contribution to the transportation sector’s expansion”.