Salik reports Dhs275 million net profit in 1st quarter – Gulf Today
- Date: 13-May-2023
- Source: Gulftoday.ae site:gulftoday.ae
- Sector:Healthcare
- Country:UAE
Salik reports Dhs275 million net profit in 1st quarter – Gulf Today
Motorists drive past a Salik Gate in Dubai.
Dubai’s toll operator Salik has reported a net profit of Dhs275 million, for Q1-2023. This was announced by the company during its meeting presided by Mattar Al Tayer, Chairman of the Board.
“Salik recorded the highest level of quarterly revenue-generating trips and toll usage revenue since the start of operations in 2007, at 113.6 million trips and Dhs454 million, respectively. Toll usage revenue, which contributed 87% to total revenue, increased 7.9% YoY on the back of a return to business-as-usual in Dubai following the complete lifting of Covid-19 restrictions, as well as solid organic growth in commercial and tourist activity.
Salik achieved net profit of c. Dhs275 million during the quarter, with a net profit margin of 52.9%,” said a disclosure by the company published by DFM. Al Tayer expressed satisfaction with the Company’s strong results during the first quarter
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