Abu Dhabi’s NMDC profit up 115% at Dh1.51 billion in 9M-2023

Abu Dhabi’s National Marine Dredging Company reported a 115.16 per cent increase in profit at Dh1.51 billion in the first nine months of 2023, compared to Dh703 million in the year-ago period.

Revenue rose 81.78 per cent during the same period to Dh11 billion. The profit numbers were aided by a 422 per cent increase in finance income, which came to Dh92.51 million for the period. The corresponding year finance income was Dh17.7 million.

The company also said it made a gain of Dh178 million on fair value gain of financial assets against a loss of Dh2 million a year ago.