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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

Dubai Taxi Company net profit up 54%

Dubai Taxi IPO raised $315 million in December.
  • Revenue for the year increased 11 percent year-on-year (YoY) to AED 1.95 billion, primarily driven by the strong performance of its taxi segment.
  • DTC’s fleet size at the end of 2023 was more than 7,400 vehicles, with its taxis and limousines completing 46 million trips in 2023, an increase of 8 percent YoY.

Dubai, UAE — Dubai Taxi Company (DTC) has posted net profit of AED 345.3 million ($94 million) in 2023, up 54 percent YoY.

Revenue for the year increased 11 percent year-on-year (YoY) to AED 1.95 billion, primarily driven by the strong performance of its taxi segment as the number of trips increased during the period, supported by the strong growth of Dubai and DTC’s exclusivity agreements in high-volume areas of the city, including Dubai International Airport (DXB).

DTC’s fleet size at the end of 2023 was more than 7,400 vehicles, with its taxis and limousines completing 46 million trips in 2023, an increase of 8 percent YoY.

The strong revenue performance resulted in a 55 percent YoY increase in EBITDA to AED 490.5 million, a margin of 25 percent and an increase of 7 percentage points year-on-year, supported by DTC’s continued focus on driving operational efficiencies through technology adoption, with initiatives including its state-of-the-art control center optimizing fleet distribution and the increased adoption of e-hailing improving the customer journey, the company said.

DTC’s Chairman Abdul Muhsen Ibrahim Kalbat said, “Our strong inaugural set of results following our successful IPO on DFM in December 2023, highlights the strength of our business, which is underpinned by the growth of Dubai, our market leading position and a supportive regulatory environment.”

He said that DTC’s Board has recommended a dividend payout of AED 71 million ($19.33 million) for Q4 2023.