Qatar Airways
Net profit: QAR 5.6bn
Net Revenue: QAR52.3 billion up by 78%
During the fiscal year 2021-22, Qatar Airways Group announced a record net profit of QAR5.6bn ($1.54bn), which was 200 percent more than its previous best annual profit. Overall revenue grew to QAR52.3 billion ($14.4 billion), up 78% from the previous year and 2% higher than FY 2019/20. Due to the expansion of Qatar Airways’ network, improved market share, and higher unit revenue, passenger revenue climbed by 210 percent year over year.
Emirates NBD profit for Q1 2022
Net profit: 18% increase of Dhs2.7bn
Dubai’s Emirates NBD posted Dhs2.7bn in net profit for Q1 2022, rising 18 per cent year-on-year and 36 per cent quarter-on-quarter. The growth was attributed to Q1 2022 being a record quarter for retail lending, deposit growth and customer transactions. Total income notched up 3 per cent year-on-year to Dhs6.4bn on improved loan mix and cheaper deposits, Dubai Media Office reported.
Aramex
Net Revenue: increase 2% to AED 1.45 billion
Net profit: 3% YoY to AED47 million
For the three months ended 31 March 2022, Aramex PJSC revenues increased 2% to AED1.45B. Net income before extraordinary items increased 14% to AED46.5M. Revenues reflect Freight Forwarding segment increase of 36% to AED391.1M. Logistics segment increase of 7% to AED112.1M, United Arab Emirates (Country) segment increase of 19% to AED255M, North America segment increase of 1% to AED74.4M.
Air Arabia
Net profit: increase of 756% of Dhs291m
For the three months ended 31 March 2022, Air Arabia PJSC revenues increased 97% to AED1.13B. Net income increased from AED33.8M to AED290.9M. Revenues reflect the Airline segment increase from AED527.6M to AED1.07B, other segments increased by 32% to AED59M. Net income benefited from equity earnings, before the increase from AED6.3M (expense) to AED10.8M (income). Finance costs decreased by 19% to AED27.9M
Abu Dhabi Islamic Bank
Net profit: 18% to AED 715 million
For the three months ended 31 March 2022, Abu Dhabi Islamic Bank PJSC interest income decreased 1% to AED1.06B. Net interest income after loan loss provision increased 3% to AED863.5M. Net income applicable to common stockholders increased 21% to AED616.8M. Net interest income after loan loss provision reflects (Loss) gain from other investment assets increase from AED794K to AED62.9M, Total Murabaha increase of 7% to AED546.4M.
ADNOC Dist. Q1 2022
Net profit: increase 7.8% to Dhs881m
For the three months ended 31 March 2022, Abu Dhabi National Ol Company for Distribution PJSC revenues increased 57% to AED6.74B. Net income increased 6% to AED670.7M. Revenues reflect a Retail segment increase of 56% to AED4.6B, Commercial segment increase of 60% to AED2.14B. Net income was partially offset by Staff Costs (Distribution & Admin Exp) increase of 8% to AED392.9M (expense).
Dubai’s RTA result for 2021
Total digital revenues: Dhs3.5bn
Dubai’s Roads and Transport Authority (RTA), has revealed that revenues collected via digital platforms increased by 32 per cent in 2021 through 309 services via digital channels. RTA’s total digital revenues amounted to Dhs3.5bn, compared to approximately Dhs2.65bn in 2020. The number of digital transactions reached 676 million last year, a 28 per cent increase over 527 million in 2020.
Al Ain Ahlia Insurance Co.
Net revenue: increased 4% to AED 93.5m
Net income: increased 14% to AED 15.5m
For the three months ended 31 March 2022, Al Ain Ahlia Insurance Company PSC revenues increased 4% to AED93.5M. Net income increased 14% to AED15.5M. Revenues reflect an Investments segment increase from AED5.4M to AED14.5M, Underwriting segment increase of 1% to AED417.3M. Net income benefited from Other income increased from AED1.9M to AED8.4M (income), and Loss from investment property net increased by 99% to AED673K (income).
Finance House PSC
Net income: 5.35 million
For the three months ended 31 March 2022, Finance House P.J.S.C. interest income decreased 11% to AED40.9M. Net interest income after loan loss provision decreased 18% to AED17.7M. Net income applicable to common stockholders increased from AED359K to AED788K. Net interest income after loan loss provision reflects Loans and advances Income from Islamic decreased by 11% to AED38.8M, and Due from banks decreased by 36% to AED849K.
United Foods Co. PSC
Net income: Flat at AED 8.2m
Net revenue: increase 40% to AED 189.4 million
For the three months ended 31 March 2022, United Foods Company (psc) revenues increased 40% to AED189.4M. Net income remained flat at AED8.2M. Revenues reflect Sales, a gross increase of 39% to AED195.9M. Net income reflects Int exp on Financial Lease Liabilit decrease of 8% to AED170K (expense), offset by Selling and Distribution expenses increase of 29% to AED11.4M (expense), General and administrative expenses increase of 8% to AED4.6M.
Gulf Marine Services PLC
Net income: 25.31 million
Net revenue: 93.98 million
For the fiscal year ended 31 December 2021, Gulf Marine Services PLC revenues increased 12% to $115.1M. Net income totalled $31M vs. a loss of $124.3M. Revenues reflect Large class vessels segment increase of 32% to $38.7M, Small class vessels segment increase of 5% to $43M, United Kingdom segment increase of 94% to $10.4M, United Arab Emirates segment increase of 9% to $58M.
International Holding Company PJSC
Net Profit: AED 3.55 billion
Net Revenue: AED 10.49 billion
IHC reported profit of AED 3.55 billion in the first quarter of 2022, compared to AED 1.5 billion Q1 2021, alongside revenue of AED 10.49 billion, while total assets stood at AED 96.04 billion. IHC is expanding its portfolio to 323 subsidiaries, an increase of 196 percent up from 109 in Q1 of 2021. The workforce is now measuring 22,345 employees, growing by over 194 percent since the first quarter of last year.
Abu Dhabi Commercial Bank (ADCB)
Net Profit: 32% (YoY) to Dhs1.483bn
Abu Dhabi Commercial Bank (ADCB) delivered a strong performance in the first quarter of 2022, reporting a net profit increase of 32 per cent year-on-year (YoY) to Dhs1.483bn, which is equivalent to a return on average tangible equity of 12.6 per cent.
Delta World Charter
Net Profit: $26 million in Q1 2022
Delta World Charter (DWC), a private charter corporation, recorded a revenue of more than $26 million in the first quarter of 2022. According to the corporation, this rise was accomplished despite difficult market conditions such as a pandemic-induced economic recovery, changing energy prices, and geopolitical uncertainty caused by the Russia-Ukraine issue.
