September 29, 2022

Abu Dhabi’s National Marine Dredging posts 146% rise in Q1 2022 net profit

Abu Dhabi-listed contractor National Marine Dredging Company (NMDC) recorded a 146 percent jump in its net profit for the first three months of the year, as it continued to diversify its business and expand global footprint.

The company, which operates in the field of engineering, procurement, construction and marine dredging, achieved a net profit of 65.4 million dirhams ($17.8 million) during the quarter, compared to 26.6 million dirhams a year earlier.

Its Q1 2022 revenue also reached 1.552 billion dirhams, up by 33 percent from 1.168 billion dirhams in the first quarter of 2021. Total assets of the company stood at 12.63 billion