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Adnoc Distribution Books Higher Q1 Profit, Revenue

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Abu Dhabi National Oil Co. For Distribution (ADX:ADNOCDIST), d/b/a Adnoc Distribution, said Wednesday that its profit and revenue for the first quarter rose year over year.

Profit attributable to equity holders of the company for the three months ended March 31 was 770.7 million Emirati dirhams, compared with 638.7 million dirhams a year ago. EPS moved to 0.062 dirham from 0.051 dirham.

The Abu Dhabi-listed fuel distributor and retailer's revenue was 8.83 billion dirhams, compared with 8.47 billion dirhams earlier.

Analysts polled by FactSet were expecting 8.92 billion dirhams in sales, 640.8 million dirhams in net income, and 0.1 dirham in EPS.

Meanwhile, the board approved a first quarterly dividend of 0.0514 dirham per share, payable on June 9 to shareholders on record May 22.

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