Adnoc Distribution net profit up 4.2% to AED2.22b in 2019

Adnoc Distribution net profit up 4.2% to AED2.22b in 2019

Adnoc Distribution on Wednesday announced that net profit for the fourth quarter of 2019 was AED496 million, an increase of 11.3 percent compared to same period last year.. The press statement issued by Adnoc Distribution on Wednesday added that total fuel volumes sold increased by 2.0 percent in the fourth quarter of 2019 compared to the fourth quarter of 2018, driven by a continued recovery in the company's retail business, growth in its corporate business and supported by new marketing initiatives.. The statement added that for the full year 2019, net profit increased to AED2.22 billion, an increase of 4.2 percent compared to 2018.. Non-fuel retail gross profit increased by 10.4 percent for the same period compared to Q4 2018.. Opex reduction and optimisation of Capex also remain key priorities.".