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Dubai Refreshment Q3 profit climbs 10.7% YOY

Dubai Refreshment (P.J.S.C.) said its third-quarter normalized net income came to 29 United Arab Emirates fils per share, a gain of 11.9% from 26 fils per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 26.2 million dirhams, a gain of 10.7% from 23.6 million dirhams in the year-earlier period.

The normalized profit margin climbed to 9.6% from 8.9% in the year-earlier period.

Total revenue rose on an annual basis to 273.0 million dirhams from 266.0 million dirhams, and total operating expenses grew year over year to 231.8 million dirhams from 228.6 million dirhams.

Reported net income increased 10.7% year over year to 41.9 million dirhams, or 47 fils per share, from 37.8 million dirhams, or 42 fils per share.

As of Nov. 12, US$1 was equivalent to 3.67 United Arab Emirates dirhams.