Abu Dhabi (Etihad)

National Marine Trading Company net profit grew by 146% to 65.4 million dirhams in the first quarter of 2022, from 26.6 million dirhams in the corresponding period of the previous year. The success of the geographical expansion strategy and the broader scope of the Group’s business led the Group to grow its revenue by 33% to 1,552 million dirhams, compared to 1,168 million dirhams in the first quarter of 2021. The group’s total assets increased to 12.63 billion dirhams, up 1.3% from its total assets of 12.47 billion dirhams in the same period last year. Speaking on the occasion, Mohamed Thani Murshid Kannam Al Rumaidi, Chairman of the Group’s Board of Directors, said: “The exceptional and continuous growth of our revenue and net profit reflects the Group’s success in enhancing its geographical scope and strategic expansion to include new business areas. . The team has succeeded in positioning itself among the fastest growing teams in the world in the fields of engineering, procurement and construction. Strong revenues came from management’s focus on improving operational efficiency at all levels. Our financial performance reflects our commitment to building a global team that supports the vision of our intelligent leadership aimed at strengthening national industry, enhancing its global competitiveness and achieving comprehensive and sustainable economic growth in the United Arab Emirates. For his part, the CEO of the National Marine Trading Company Group, Eng. Yasser Jacqueline said: “After the team’s record profit last year, we are currently in the process of consolidating our success. We will continue to grow through strategic expansion in areas such as civil projects, refining and petrochemicals, coastal operations, renewable energy and deep-sea operations. In light of that, we have been monitoring the exchange rates and studying various options to meet the price challenges of the primary raw materials, but our business model and flexible The supply chain system contributes to meeting these challenges and alleviating them. We follow economic developments in the markets in which we operate, especially Egypt, and continue to work to develop our business model in line with market variables, based on our interest in overcoming challenges, thanks to a flexible work organization professionally. , And the readiness to deal with various situations at all levels is reflected in the completion of the business and the financial results achieved. In the first quarter of 2022, the Group continued to pursue its ambitious plans such as geographical expansion, conquering unique and strategic plans, diversifying business sectors, as well as mergers and acquisitions, which boosted returns on profits and investment. The team’s strategy focuses on improving operational efficiency, improving cost management, supply chain management and increasing productivity at all levels. The team wants to get a number of future projects in Southeast Asia, South Asia and Europe, which highlights the industry’s confidence in its capabilities. The Group’s activities are in line with the highest standards of health, safety and the environment as it seeks to enhance its capabilities to support transformation projects in the energy and renewable energy sector, especially as the UAE prepares to host a conference of parties. To attend the United Nations Framework Convention on Climate Change in 2023 in Abu Dhabi (COP28)