Emaar’s net profits up 33 percent in 1H 2003
Emaar Properties, a regional real estate development company, reported net profits of 320 million Emirati dirhams ($87 million) for the first half of 2003, a 33 percent growth from Dh 240 million during the previous comparable accounting period.
Revenue during the half-yearly period grew to Dh 1.38 billion compared to Dh 542 million, a growth of 156 percent. Significantly, the annualized Earning Per Share for the half yearly period reached Dh 2.57 compared to Dh 1.81 during the first half of 2002.
Emaar Properties is a Public Joint Stock Company listed on the Dubai Financial Market with an asset base of six billion dollars. The Emaar portfolio now boasts eight projects, each of which is at different stages of development and occupancy. The company has more than 41,000 shareholders, a majority of whom are United Arab Emirates (UAE) nationals. — (menareport.com)
© 2003 Mena Report (www.menareport.com)