Dubai Aerospace Enterprise (DAE) Ltd. recorded Net Income, excluding non-recurring items, of US$ 81.3 million (AED 298.7 million) for full year 2011, an increase of 110 percent over the Net Income, excluding non-recurring items, of US $38.8 million (AED142.6 million) for full year 2010. Revenue for full year 2011 increased to US$ 1,802 million (AED 6,621 million) from US$ 1,612 million (AED 5,922 million) for full year 2010. Net Income for full year 2011 was US$121.7 million (AED 447.1 million), up from US$10.3 million (AED37.8 million) in 2010.
DAE Chairman HH Sheikh Ahmed bin Saeed al-Maktoum said: “I am pleased with the way in which DAE built on its market position in 2011 and reported record revenues and profits for the year.” DAE Managing Director Khalifa H. AlDaboos said: “DAE demonstrated its earnings power in 2011 with each division contributing towards the record results of the Company. Our strong equity base allows us to be a long-term competitor in our chosen markets.