12% growth in ADNOC Distribution during the first quarter of 2018

Media In – Abu Dhabi 16 May 2018 / WAM /
ADNOC Distribution’s net profit for the first quarter of 2009 was AED 542 million, a growth of 12.1 per cent compared to the first quarter of 2017, making strong progress in line with its growth plan in line with its Q1 2018 financial results.
ADNOC Distribution, the country’s largest fuel and retail company, posted a total profit of AED 1.185 billion, an increase of 14.3 per cent over the same period last year. Pre-tax, amortization and amortization profits rose to AED 702.8 million, a growth of 24.9 per cent.
“The results of the first quarter reflect the strong financial performance achieved by ADNOC Distribution, which has laid a solid foundation for growth growth through its initiatives that include oil and non-oil products and enhanced financial efficiency,” said Saeed Mubarak Al Rashidi, Acting CEO of ADNOC Distribution.
He explained that ADNOC Distribution’s strong performance and sustainable profit will reflect positively not only on the company’s shareholders and customers, but also on society in the country as a whole, as it enables the company to continue investing in vital infrastructure, technology and human capital that supports the country’s development efforts.
The company launched the ADNOC Flex service, which focuses on customers and gives them more fueling options. The service is being deployed throughout the country during the first and second quarters.