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Emirates Driving Q3 profit climbs 11.8% YOY

Emirates Driving Co. PJSC said its third-quarter normalized net income came to 19 United Arab Emirates fils per share, a gain of 11.8% from 17 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 16.8 million dirhams, a gain of 11.8% from 15.1 million dirhams in the year-earlier period.

The normalized profit margin climbed to 27.1% from 25.2% in the year-earlier period.

Total revenue climbed on an annual basis to 62.2 million dirhams from 59.6 million dirhams, and total operating expenses grew on an annual basis to 35.3 million dirhams from 34.8 million dirhams.

Reported net income rose 11.5% on an annual basis to 27.5 million dirhams, or 31 fils per share, from 24.7 million dirhams, or 27 fils per share.

As of Nov. 14, US$1 was equivalent to 3.67 United Arab Emirates dirhams.