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Abu Dhabi National Hotels on Monday reported a net profit of Dh86 million for the first quarter of 2017 compared to Dh92 million in the first quarter of last year, the company said in a statement on Abu Dhabi bourse.
The lower profit was due to consolidated revenues totalling Dh354 million in the first quarter of this year compared to Dh364 million in the first quarter of 2016.
“The three per cent decrease in ADNH group revenue during the first three months of 2017 compared to the same period in 2016 was mainly due to ongoing economic challenges,” the company said.
Abu Dhabi National Hotels (ADNH) was recently presented with two prestigious awards for its contribution to the success of the UAE emirate.
The property was listed among Forbes Middle East
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