NMDC doubles net profits during 9 months of 2023

The National Marine Dredging Company (NMDC) has announced its record growth rates in net profits during the third quarter of 2023, reaching AED1.513 billion ($412 million) for the first nine months.

NMDC photo

Commenting the news, Mohamed Thani Murshed Ghannam Al Rumaithi, Chairman of NMDC, said: “During the third quarter of this year, the Group was able to achieve exceptional financial results, maintaining its growth momentum and commitment to achieving the highest standards of operational efficiency.”

“The organisation is committed to building on the growth achieved in revenues and net profits and continuing geographical expansion in light of the revenues, of which 79% came from the UAE and 21% from the international market, mainly Saudi Arabia and Egypt. In the near future, we aim to strengthen our presence in the international market in line with our position as a global leader in marine dredging.”

“For Q4 2023, we are looking forward to a new chapter of achievements as we lead several new projects that will bolster our successes and support our goals towards realising more growth and progress. We will always earn the trust placed in us by keeping pace with the ongoing comprehensive and sustainable cultural renaissance in Abu Dhabi and the UAE overall,” added Yasser Zaghloul, CEO of NMDC Group.