Abu Dhabi – Mubasher: National Corporation for Tourism and Hotels (NCTH) saw a 18.5% rise in the second quarter’s profits, according to a bourse filing.

Its net profits reached AED 37.77 million ($10.28 million) during the second quarter, compared with AED 31.87 million ($8.68 million) for the year-ago quarter.

On the first six-month basis, net profits rose by 9.9% year-over-year to AED 82.95 million from AED 75.5 million.

During the second quarter, cost of service increased by 6.8% to AED 158.92 million.

General and administrative expenses slid by 16.6% to AED 5.41 million.

Profit-sharing in sister companies and a joint venture increased by 279.6% to AED 1.92 million.