RIYADH: Abu Dhabi-based fuel operator ADNOC Distribution earned 1.56 billion dirhams ($425 million) in net profit for the first half of 2022, boosted by higher fuel demand and prices.
The non-oil side of the business also contributed to the rise, resulting in a 10 percent increase in gross profit from a year ago, the company reported.
Volumes of fuel increased 9 percent as a result of growth in ADNOC Distribution's retail and commercial businesses..
ADNOC will distribute a minimum of 1.28 billion dirhams as the first half-year dividend in October. The payout for the full year will be 2.57 billion dirhams.
