Story thread · 5 reports / 3 sources

Adnoc L&S Q2 profit surges fourfold on higher revenue boosted by ship business

thenationalnews.com · 15hShare

Adnoc Logistics and Services reported a fourfold jump in its second-quarter profit as revenue more than doubled on the back of a strong performance of its shipping business despite uncertain geopolitical situation triggered by the Iran war. Net profit attributable to the equity holders of the company in the three months to the end of June climbed to nearly $917 million compared to $229 million for the same period last year, Adnoc L&S said in a filing on Tuesday to the Abu Dhabi Securities Exchange, where its shares are traded. Revenue for the quarter surged to $2.58 billion. The company also raised its 2026 financial guidance for the third time amid higher earnings. “Strong fundamentals in the shipping market, our disciplined execution, and our ability to quickly respond to volatile market conditions, supported exceptional earnings and cash generation and a record result for the first half of 2026,” Capt Abdulkareem Al Masabi, chief executive of Adnoc L&S, said. “Our fleet investments

First report: Adnoc Gas second-quarter net income slumps on war disruptions — thenationalnews.com, 1d