Abu Dhabi – Mubasher: The National Corporation for Tourism and Hotels (NCTH) reported a 3.25% year-on-year drop in profits for the full-year 2018.
Net profits amounted AED 100.5 million ($27.37 million) during 2018, compared to AED 103.8 million ($28.26 million) in 2017, according to the company’s recent statement to the Abu Dhabi Securities Exchange (ADX).
Earnings per share (EPS) registered AED 0.13 for the year ended last December, against AED 0.14 in the prior year.
The company attributed 2018 profit drop to a decrease in revenues by 2.5% year-on-year to AED 709.32 million in 2018, the statement said.
As for the period from January to September 2018, NCTH’s profits dipped 7% to AED 63.2 million, against AED 68 million in the year-ago period.
By 10:51 am UAE time, NCTH’s stock stood at AED 1.68.
