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{"id":289743,"date":"2024-11-12T00:00:00","date_gmt":"2024-11-12T00:00:00","guid":{"rendered":"http:\/\/fujairahupdates.com\/?guid=98296fcf2cb5400360818bd112017eb3"},"modified":"2024-11-12T00:00:00","modified_gmt":"2024-11-12T00:00:00","slug":"ad-ports-group-reports-record-aed445-million-net-profit-in-q3-2024","status":"publish","type":"post","link":"https:\/\/fujairahupdates.com\/ad-ports-group-reports-record-aed445-million-net-profit-in-q3-2024\/","title":{"rendered":"AD Ports Group Reports Record AED445 Million Net Profit in Q3 2024."},"content":{"rendered":"
\nABU DHABI: AD Ports Group today announced an impressive net profit of AED445 million for the third quarter of 2024, reflecting a significant year-on-year growth. The company’s revenue for the same period reached a record AED4.66 billion, highlighting robust performance across its primary business segments.<\/p>\n
According to Emirates News Agency, the Q3 2024 revenue represents a 10 percent increase compared to the previous year. When adjusted for vessel trading activities recorded in Q3 2023, the revenue showcases a 60 percent rise. On a like-for-like basis, which takes into account the effects of mergers and acquisitions as well as vessel trading activities, the revenue for Q3 2024 experienced a 28 percent year-on-year growth.<\/p>\n
The company reported an EBITDA of AED1.21 billion for Q3, marking a 60 percent increase from the previous year and achieving a nearly 100 percent cash conversion rate. Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, expressed satisfaction with the performance, stating tha \nt the results underscore the strong foundation of AD Ports Group’s core businesses and the strategic advantages of its ‘intelligent’ internationalisation approach. <\/p>\n","protected":false},"excerpt":{"rendered":"
ABU DHABI: AD Ports Group today announced an impressive net profit of AED445 million for the third quarter of 2024, reflecting a significant year-on-year growth. The company’s revenue for the same period reached a record AED4.66 billion, highlighting …<\/p>\n<\/div>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-289743","post","type-post","status-publish","format-standard","hentry","category-general"],"yoast_head":"\n
AD Ports Group Reports Record AED445 Million Net Profit in Q3 2024. - Fujairah Updates<\/title>\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\t\n\t\n\t\n