Emaar Properties’ net profits reach $136 million in 2003
Emaar Properties has reported a net profit of 503 million Emirati dirhams ($136 million) for the nine-month period ending September 30, 2003, up 24 percent on the same period last year.
Revenue was up 160 percent on the same period last year, reaching Dh 2.392 billion, while annualized earnings per share increased to Dh 2.7 from Dh 2.04 for the same period last year.
Emaar has 10 major residential and commercial projects under development. Formed in 1997, the Emaar Group includes fully-owned subsidiaries Dubai Bank, Amlak Finance, Sahm Technologies, and Emrill. The company has more than 41,000 shareholders, most of which are United Arab Emirates (UAE) nationals. — (menareport.com)
© 2003 Mena Report (www.menareport.com)