Adnoc Distribution reports higher profit for 2017 - The National

Adnoc Distribution reports higher profit for 2017 - The National:

"Adnoc Distribution, the UAE's biggest fuel distributor and convenience store operator, said its 2017 preliminary profit rose 1.3 per cent, boosted by higher oil prices and an increase in volumes.

The results were the company’s first financial results since it sold shares to the public in December and announced an expansion into Saudi Arabia and Dubai.

Net profit rose to Dh1.8 billion in 2017, or Dh0.144 per share, compared with Dh1.78bn, or Dh0.142 per share in 2016, the company said in statement on its website. Revenue rose 11.8 per cent to Dh19.76bn in 2017 versus Dh17.67bn in 2016, it said. Total assets rose to Dh12.2 b in 2017 from Dh11.44bn in 2016."



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