trending Market Intelligence /marketintelligence/en/news-insights/trending/unQTkLe1kF2V0_-lO8xpYw2 content esgSubNav
In This List

Emirates Refreshments Q2 profit falls YOY


Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

451 Research Podcast

Next in Tech | Episode 42: AI/ML Infrastructure


Automating Credit Risk Surveillance Using Statistical Models

Case Study

Searching for Alpha with Textual Data

Emirates Refreshments Q2 profit falls YOY

Emirates Refreshments (P.S.C.) said its normalized net income for the second quarter came to 4 United Arab Emirates fils per share, a decline of 39.1% from 6 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 1.0 million dirhams, a decrease of 39.1% from 1.7 million dirhams in the prior-year period.

The normalized profit margin dropped to 6.4% from 8.6% in the year-earlier period.

Total revenue fell 19.2% year over year to 16.2 million dirhams from 20.1 million dirhams, and total operating expenses declined 15.6% on an annual basis to 14.7 million dirhams from 17.4 million dirhams.

Reported net income decreased 39.1% year over year to 1.7 million dirhams, or 6 fils per share, from 2.7 million dirhams, or 9 fils per share.

As of Aug. 9, US$1 was equivalent to 3.67 United Arab Emirates dirhams.