Business
Amanat reports 39% growth
Amanat recorded a total income of AED46.9 million
- The company recorded total income of AED 46.9 million, an increase of 40 percent on the AED 33.5 million recorded in Q1-2021
- Adjusted net profit rose to AED32.1 million in the quarter, a 39 percent increase on the AED23.1 million reported in the same quarter of the last year
Business
Fertiglobe revenue grows by 118 percent
The company raised its H1 2022 dividend guidance to at least $700 million.
- Adjusted net income in Q1 2022 was $361 million, increasing by 332 percent year-on-year.
- In March, Fertiglobe was announced as a founding constituent of the FTSE Russell ADX 15 Index.
Business
Emirates, Jafza sign MoU
They will explore ways to offer travel incentives to SMEs.
- The MoU was signed by Dina Al Herais, Emirates’ Vice President, Commercial Products, B2B Corporate & Leisure, and Ebtesam Ahmad Alkaabi, Head of Sales, Jafza Sales.
- Emirates currently has over 20,000 SMEs enrolled in its Business Rewards program.
Business
Air Arabia Q1 profit at $79.24m
The profits were up 756% compared to $9.26 million in 2021.
- More than 2.4 million passengers flew with Air Arabia between January and March this year, across the carrier’s five hubs
- This marked an 86-percent increase compared to a total of 1.3 million passengers carried in the first quarter of last year
Business
Disney profit slips in Q1
The company’s streaming service gained 7.9 million more subscribers.
- The entertainment giant reported net income of $470 million, just over half of the $912 million profit it made in the same period a year earlier
- But park attendance that had fallen due to the pandemic rebounded and the Disney+ television streaming service gained 7.9 million subscribers to 137.7 million
Business
IHC doubles its profit in Q1
The Abu Dhabi company has posted $970m profit.
- In comparison, the profit in Q1 2021 was reported to be AED 1.5 billion ($410 million)
- Also, with a revenue of AED 10.49 billion; the total assets stood at AED 96.04 billion
Business
Alpha Dhabi Q1 net profit $773m
Revenues stood at AED8.17 billion, a year-on-year increase of 700 percent.
- This was the first set of Q1 results for Alpha Dhabi since its direct listing on ADX in June 2021.
- The company's acquisitions and investments totaled AED5.21 billion.
Business
Toyota posts record net profit
The growth was helped by strong sales and a cheaper yen.
- The Japanese auto giant kept its crown as the world's top-selling carmaker in 2021
- For the current year to March 2023, it said it expects to post an annual net profit of $17.3 billion
Business
Arada awards two deals
Under the $125.23m contracts, a residential district will be built at Masaar.
- Valued at AED228 million, the contract to build 142 villas in the Sendian district of Masaar was won by Kuwait's Al-Kharafi.
- The second contract worth AED232m to build the remaining 288 homes in Sendian was awarded to Intermass, a Sharjah-based contractor.
Business
Nintendo profits rise as demand booms
The rise is also attributed to the popularity of the Switch.
- The company, which has benefited from a string of popular titles including "Pokemon Legends: Arceus", posted a 2021-22 net profit of 477.7 billion yen.
- Uncertainties linked to the global chip shortage and potential production and transport delays caused by Covid-19 lockdowns could hit future profits.
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Business
Lufthansa Q3 profit $1.3bn
38 million passengers travelled with the group's airlines in the third quarter.
- The group said sales rose by eight percent to 10.3 billion euros, delivering "the strongest quarter in its history in revenue terms".
- The surge in profit is driven by "strong demand, higher capacity" and more expensive ticket prices, the aviation firm said.
Business
Alpha Dhabi 9M net profit $3.15bn
The net profit increased by a substantial 29 percent during this period.
- Alpha Dhabi's revenue also increase by 22 percent during this period, reaching AED 32.4 billion, compared to AED 26.6 billion in the previous year period.
- Alpha Dhabi's total assets reached AED 133.6 billion, with a cash position of AED 19.1 billion as of September 30, 2023.
Business
Lootah Biofuels inks MoU
The agreement is aimed at producing biofuel in Maldives.
- The deal was inked during the second day of the Dubai Business Forum, an influential global gathering of businesses and investors.
- The objective of the MoU is to reduce the impact of CO2 by replacing normal diesel with biodiesel.