Dubai toll operator Salik reported a 16 per cent jump in its fourth-quarter profit on revenue growth driven by an increase in fines and an introduction of more toll gates.
Profit for three months to the end of December climbed to Dh342.5 million ($93.26 million), the company said in a statement on Tuesday to the Dubai Financial Market, where its shares are traded.
Revenue for the period rose 15.6 per cent annually to Dh651 million ($177 million) as trips by motorists through Salik gates rose 15.8 per cent year-on-year, to Dh142.6 million. Salik introduced two more toll gates in November, at Business Bay Crossing in Al Khail Road and at Al Safa South in Sheikh Zayed Road.
Revenue from fines also increased 14.5 per cent annually, to Dh62.1 million, as the number of net violations rose 5.4 per cent to 730,000. Net violations during the fourth quarter represented 0.4 per cent of net toll traffic, and toll usage revenue grew 15.7 per cent to Dh570.2 million amid the continued inflow of tourists to the emirate and increased of movement, the company said.
“With this growth, we see promising opportunities to continue to increase and diversify our revenues, enhance our financial returns, and contributing to the long-term sustainability of our business,” said Mattar Al Tayer, chairman of the board of directors of Salik.
The company’s full-year profit grew 6 per cent annually to Dh1.16 billion, as revenue jumped 8.7 per cent to Dh2.29 billion. Its total assets as of the end of last year reached Dh7.98 billion, up about 53 per cent annually.
The company revised its revenue guidance for the full year upwards to 28 per cent-29 per cent, compared to its previous guidance of 25 per cent-26 per cent, amid the introduction of the new Salik gates and variable pricing in January.
Motorists will be charged Dh6 during peak hours between 6am and 10am and from 4pm to 8pm, and Dh4 during off-peak hours between 10am and 4pm and from 8pm to 1am.
The company's board of directors proposed a dividend of Dh619.8 million to be paid during first half of 2025 in light of the strong financial performance.
The Salik system was introduced in 2007 to ease traffic congestion, raise state revenue and encourage residents to use public transport. The first two gates were installed in Gharoud and Barsha, with Safa and Maktoum bridge gates added a year later. In 2013, three more were introduced at Airport Tunnel, and two at Mamzar – south and north. In 2018, the Jebel Ali gate was introduced. Motorists are charged to pass through each gate, with the amount deducted automatically from tags fixed to windscreens.
Essentials
The flights
Emirates, Etihad and Malaysia Airlines all fly direct from the UAE to Kuala Lumpur and on to Penang from about Dh2,300 return, including taxes.
Where to stay
In Kuala Lumpur, Element is a recently opened, futuristic hotel high up in a Norman Foster-designed skyscraper. Rooms cost from Dh400 per night, including taxes. Hotel Stripes, also in KL, is a great value design hotel, with an infinity rooftop pool. Rooms cost from Dh310, including taxes.
In Penang, Ren i Tang is a boutique b&b in what was once an ancient Chinese Medicine Hall in the centre of Little India. Rooms cost from Dh220, including taxes.
23 Love Lane in Penang is a luxury boutique heritage hotel in a converted mansion, with private tropical gardens. Rooms cost from Dh400, including taxes.
In Langkawi, Temple Tree is a unique architectural villa hotel consisting of antique houses from all across Malaysia. Rooms cost from Dh350, including taxes.
Six large-scale objects on show
- Concrete wall and windows from the now demolished Robin Hood Gardens housing estate in Poplar
- The 17th Century Agra Colonnade, from the bathhouse of the fort of Agra in India
- A stagecloth for The Ballet Russes that is 10m high – the largest Picasso in the world
- Frank Lloyd Wright’s 1930s Kaufmann Office
- A full-scale Frankfurt Kitchen designed by Margarete Schütte-Lihotzky, which transformed kitchen design in the 20th century
- Torrijos Palace dome
Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
Torque: 320Nm
Price: From Dh147,000
Available: Now
UAE currency: the story behind the money in your pockets
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Representing%20UAE%20overseas
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How to report a beggar
Abu Dhabi – Call 999 or 8002626 (Aman Service)
Dubai – Call 800243
Sharjah – Call 065632222
Ras Al Khaimah - Call 072053372
Ajman – Call 067401616
Umm Al Quwain – Call 999
Fujairah - Call 092051100 or 092224411
World Sevens Series standing after Dubai
1. South Africa
2. New Zealand
3. England
4. Fiji
5. Australia
6. Samoa
7. Kenya
8. Scotland
9. France
10. Spain
11. Argentina
12. Canada
13. Wales
14. Uganda
15. United States
16. Russia
THE APPRENTICE
Director: Ali Abbasi
Starring: Sebastian Stan, Maria Bakalova, Jeremy Strong
Rating: 3/5
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'The worst thing you can eat'
Trans fat is typically found in fried and baked goods, but you may be consuming more than you think.
Powdered coffee creamer, microwave popcorn and virtually anything processed with a crust is likely to contain it, as this guide from Mayo Clinic outlines:
Baked goods - Most cakes, cookies, pie crusts and crackers contain shortening, which is usually made from partially hydrogenated vegetable oil. Ready-made frosting is another source of trans fat.
Snacks - Potato, corn and tortilla chips often contain trans fat. And while popcorn can be a healthy snack, many types of packaged or microwave popcorn use trans fat to help cook or flavour the popcorn.
Fried food - Foods that require deep frying — french fries, doughnuts and fried chicken — can contain trans fat from the oil used in the cooking process.
Refrigerator dough - Products such as canned biscuits and cinnamon rolls often contain trans fat, as do frozen pizza crusts.
Creamer and margarine - Nondairy coffee creamer and stick margarines also may contain partially hydrogenated vegetable oils.
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
