Dubai, U.A.E., 5 May 2013 – Dubai Aerospace Enterprise (DAE) Ltd. reported Net Income, excluding non-recurring items, of US$ 110.1 million (AED 404.6 million) for full year 2012, an increase of 35 percent over the Net Income, excluding non-recurring items, of US $81.3 million (AED 298.7 million) for full year 2011.
Revenue for full year 2012 increased to US$ 1,943 million (AED 7,140 million) from US$ 1,802 million (AED 6,621 million) for full year 2011. Net Income for full year 2012 was US$7.3 million (AED 27.0 million), down from US$121.7 million (AED 447.1 million) in 2011.
DAE Managing Director Khalifa H. AlDaboos said: “DAE was successful yet again in growing its Core Income. “Our business prospects are strong, and the Company is poised for growth in 2013 and beyond”.
Dubai Aerospace Enterprise (DAE) Ltd is a globally recognized aerospace company specializing in maintenance, repair and overhaul (MRO) services, aircraft completions and aircraft leasing. The Company is headquartered in Dubai and operates in four continents and employs over 4,000 people. More information can be found on the company's web site at www.dubaiaerospace.com.