Dubai – Mubasher: Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) posted a 7% year-on-year rise in profits for the fourth quarter of 2017.
Net profit amounted to AED 492.4 million in Q4-17, versus AED 461 million in the same period a year earlier, according to a filing to the Abu Dhabi Securities Market (ADX).
Meanwhile, net profit grew by 1% in 2017 to AED 1.8 billion, compared to profits of AED 1.78 billion in the year before.
The company attributed the rise in revenues to the increase in sales, in addition to the rise of oil prices.
ADNOC Distribution has been listed on the ADX on 13 December 2017.