Dubai Aerospace Enterprise (DAE) reported total revenue of $1.069 billion (Dh3.926 billion) for the nine months ended September 30, 2018, an increase of 124 per cent from $477.5 million (Dh1.753 billion) for the same period in 2017.

DAE’s pre-tax profit amounted to $333.5 million (Dh1.224 billion) for the nine months ended September 30, 2018, an increase of 333 per cent from $77.1 million (Dh283.0 million) for the same period last year, said a statement from the company.

Results for the nine months ended September 30, included the results of the AWAS acquisition which was completed in August 2017, it said.

DAE chief executive officer Firoz Tarapore said: “Our financial results reflect the strength of our franchise and our market position.”

“This leading market position and our stellar financial results contributed to DAE being awarded an investment grade rating of BBB+ by KBRA and an upgrade from both S&P Global and Moody’s in recent months,” he added. – TradeArabia News Service