Abu Dhabi contractor National Marine Dredging Company, reported a 16 per cent annual increase in its third-quarter net profit on the back of robust project pipeline, operational expansion, and the successful initial public offering of NMDC Energy.
The company, an engineering, procurement, construction and marine dredging contractor in the Middle East, reported a net profit of Dh731 million ($199 million), compared to Dh632 million in the same period last year, it said in a statement on Sunday.
Revenue for the last quarter stood at Dh6.39 billion, up 50 per cent from the same quarter last year.
“This has been an important quarter operationally, with the delivery of multiple strategic initiatives culminating in the successful listing of NMDC Energy. These activities show that our forward-focused business is primed to unlock new possibilities and drive further value for our partners,” said Mohamed Al Rumaithi, chairman of the NMDC Group.
NMDC’s backlog stood at over Dh70 billion as of September 30, “reflecting a strong pipeline of projects and revenue”, the company said in a separate statement to the Abu Dhabi Securities Exchange, where its shares are traded.
“The company’s project backlog represents the total value of contracted projects that are yet to be completed. This backlog is a key indicator of the future revenue potential and operational workload.”
Last month, NMDC’s unit NMDC Energy closed its IPO which was oversubscribed by more than 31 times, setting the stage for what is expected to be the UAE's biggest listing of 2024.
NMDC reported a 45 per cent increase in its nine-month profit, driven by strong growth across its business verticals.
Net profit for the period stood at Dh2.19 billion, “underlining robust performance and strategic expansion into new projects”, it said in the statement.
Revenues rose to Dh18.58 billion, up 68 per cent from the same period last year. The company also announced Dh2 billion of special cash dividends at Dh2.37 per share.
“We will continue to branch out – both vertically and horizontally – through diversification strategies aimed at maximising added value and driving sustainable company growth,” Yasser Zaghloul, the company's chief executive, said.
The company said its financial performance reflects the “strength of its diverse and growing businesses. As the group continues to move at pace, it is deepening its presence in key markets, advancing its strategic objectives, and unlocking value for partners and shareholders”.
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
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Sreesanth's India bowling career
Tests 27, Wickets 87, Average 37.59, Best 5-40
ODIs 53, Wickets 75, Average 33.44, Best 6-55
T20Is 10, Wickets 7, Average 41.14, Best 2-12
Trump v Khan
2016: Feud begins after Khan criticised Trump’s proposed Muslim travel ban to US
2017: Trump criticises Khan’s ‘no reason to be alarmed’ response to London Bridge terror attacks
2019: Trump calls Khan a “stone cold loser” before first state visit
2019: Trump tweets about “Khan’s Londonistan”, calling him “a national disgrace”
2022: Khan’s office attributes rise in Islamophobic abuse against the major to hostility stoked during Trump’s presidency
July 2025 During a golfing trip to Scotland, Trump calls Khan “a nasty person”
Sept 2025 Trump blames Khan for London’s “stabbings and the dirt and the filth”.
Dec 2025 Trump suggests migrants got Khan elected, calls him a “horrible, vicious, disgusting mayor”
UK’s AI plan
- AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
- £10bn AI growth zone in South Wales to create 5,000 jobs
- £100m of government support for startups building AI hardware products
- £250m to train new AI models
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The specs: 2019 BMW i8 Roadster
Price, base: Dh708,750
Engine: 1.5L three-cylinder petrol, plus 11.6 kWh lithium-ion battery
Transmission: Six-speed automatic
Power: 374hp (total)
Torque: 570Nm (total)
Fuel economy, combined: 2.0L / 100km
Surianah's top five jazz artists
Billie Holliday: for the burn and also the way she told stories.
Thelonius Monk: for his earnestness.
Duke Ellington: for his edge and spirituality.
Louis Armstrong: his legacy is undeniable. He is considered as one of the most revolutionary and influential musicians.
Terence Blanchard: very political - a lot of jazz musicians are making protest music right now.
ESSENTIALS
The flights
Emirates, Etihad and Swiss fly direct from the UAE to Zurich from Dh2,855 return, including taxes.
The chalet
Chalet N is currently open in winter only, between now and April 21. During the ski season, starting on December 11, a week’s rental costs from €210,000 (Dh898,431) per week for the whole property, which has 22 beds in total, across six suites, three double rooms and a children’s suite. The price includes all scheduled meals, a week’s ski pass, Wi-Fi, parking, transfers between Munich, Innsbruck or Zurich airports and one 50-minute massage per person. Private ski lessons cost from €360 (Dh1,541) per day. Halal food is available on request.
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UAE currency: the story behind the money in your pockets
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
COMPANY PROFILE
Company name: Blah
Started: 2018
Founder: Aliyah Al Abbar and Hend Al Marri
Based: Dubai
Industry: Technology and talent management
Initial investment: Dh20,000
Investors: Self-funded
Total customers: 40
EA Sports FC 26
Publisher: EA Sports
Consoles: PC, PlayStation 4/5, Xbox Series X/S
Rating: 3/5
Ms Yang's top tips for parents new to the UAE
- Join parent networks
- Look beyond school fees
- Keep an open mind
CHATGPT%20ENTERPRISE%20FEATURES
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GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
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Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah
Director: Majid Al Ansari
Rating: 4/5
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
Torque: 320Nm
Price: From Dh147,000
Available: Now
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COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
