ADNH 2007 Q1 profit AED 135m +83% on 2006 Q1 - 07 May 07

[sharewadi]

ADNH Q1 2007 results

ADNH 2007 Q1 report

Abu Dhabi National Hotels (ADNH) profit figures for first quarter 2007 are:

2007 Q1 profit = AED 135m +83.4% from 2006 Q1, EPS = 0.19 dhs (0.76 annualised)
2006 Q1 profit = AED 73.5m, EPS = 0.10 dhs

Forward 2007 PE = 3.99 / 0.76 = 5.3 - looks rather cheap compared to market average of about 12-14. Why? And why did share price drop over 6% today with announcement of results? Admittedly on light volumes but then ADNH aren't usually very often traded.

Hmmm. Operating Revenue up substantially, while they managed to keep Operating Costs relatively flat. That's a good sign - indicates they're generating a profit more effeciently.

Cashflow looks good and they've got a stack of it - over half a billion dhs. Perhaps too much, they could be putting it to better use than leaving it in the bank. Or tied up in investments.

May be worth investigating further - at least until figuring out why the shares are so cheap.

ADSM 07 May 2007:

(ADNH) 07-05-2007 Abu Dhabi National Hotels announces 1st quarter, 2007 financial results

ADSM 07 May 2007 (Arabic):

(ADNH) 07-05-2007 Abu Dhabi National Hotels announces board of directors' report on the 1st quarter, 2007 financial results

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