Dubai Aerospace Enterprise Full Year 2011 Net Income Excluding Non-Recurring items Up 110 Percent to $ 81.3 Million
Tuesday, 24 April 2012
DUBAI, Dubai Aerospace Enterprise (DAE) Ltd. recorded net income, excluding non-recurring items, of $ 81.3 million (AED 298.7 million) for full year 2011.
This represents an increase of 110 percent over the net income, excluding non-recurring items, of $38.8 million (AED142.6 million) for full year 2010.
Revenue for full year 2011 increased to $ 1,802 million (AED 6,621 million) from $ 1,612 million (AED 5,922 million) for full year 2010. Net Income for full year 2011 was $121.7 million (AED 447.1 million), up from $10.3 million (AED37.8 million) in 2010.
Sheikh Ahmed bin Saeed al-Maktoum, DAE chairman said: “I am pleased with the way in which DAE built on its market position in 2011 and reported record revenues and profits for the year.”
Khalifa H. AlDaboos, DAE managing director added: “DAE demonstrated its earnings power in 2011 with each division contributing towards the record results of the Company. Our strong equity base allows us to be a long-term competitor in our chosen markets.