Company Lookup
عربي
Download Demo
 

Market News

This Month News

This Month News

send to a friend by email

Emaar Properties posts 2.57 billion dirhams net income, up by 21% in the year 2013

2014-02-17

Emaar Properties PJSC (EMAAR), the Dubai developer that regained its investment grade this month, said annual profit climbed 21 percent, exceeding analyst estimates.  Net income rose to 2.57 billion dirhams ($735 million) from 2.12 billion dirhams a year earlier, the company said today in a statement. That beats 2.4 billion dirhams, the average of 13 analyst estimates compiled by Bloomberg. Revenue climbed 25 percent to 10.3 billion dirhams. “Emaar’s fundamental financial strength is underscored by our diversified growth model, with the shopping malls and hospitality business contributing significantly to the total revenue,” Chairman Mohamed Alabbar said in the statement. Real estate companies in Dubai are benefiting from an economic recovery and a rebound in construction as the Gulf business hub prepares to host the World Expo in 2020 with spending of $8 billion on infrastructure projects. Standard & Poor’s raised Emaar’s rating last week by one level to BBB-, the developer’s first investment grade since it was cut to junk in December 2009 amid a plunge in Dubai property prices following the global credit crisis. Emaar’s hospitality and shopping mall business contributed 46 percent of full-year revenue. Fourth-quarter profit climbed to 48 percent to 756 million dirhams as costs fell by 19 percent. The developer of the world’s tallest tower plans to build Spanish-style villas and a leisure and shopping development near Dubai’s new airport and apartments near Burj Khalifa. Home prices this year may jump 35 percent to 40 percent, Land Department General Director Sultan Bin Mejren said last month. Emaar’s rating improved following the presale of properties, an increase in recurring income the conversion of bonds valued at $475.7 million into shares, S&P said. The company has $2.5 billion of debt outstanding, including a $500 million Islamic bond due in August 2016.

 

 

 

 

 


 

2020-05-21
Idleness in trading prior to Eid Al-Fitr holiday

2020-05-21
PIBC approves distributing 4% cash dividends for the year 2019

2020-05-20
APIC proposes distributing 6.74% cash dividends and 6.74% stocks dividends for the year 2019

2020-05-20
UCI posts net income of $0.15 million in Q1 2020

2020-05-19
MIC posts net income of $0.56 million in Q1 2020

2020-05-19
TIC posts net income of $0.83 million in Q1 2020

2020-05-18
SANAD realizes net loss of $0.55 million in Q1 2020

2020-05-18
WASSEL posts net income of $0.03 million in Q1 2020

2020-05-18
TNB posts net income of $7.80 million in Q1 2020

2020-05-18
ELECTRODE realizes net loss of JD0.004 million in Q1 2020

2020-05-18
GUI posts net income of $0.77 million in Q1 2020

2020-05-18
AQARIYA posts net income of $0.08 million in Q1 2020

2020-05-18
JCC posts net income of JD0.09 million in Q1 2020

2020-05-18
OOREDOO posts net income of $1.28 million in Q1 2020

2020-05-18
TRUST posts net income of $1.18 million in Q1 2020

2020-05-17
NCI records net income of $0.09 million in Q1 2020

2020-05-17
PID realizes net loss of JD0.52 million in Q1 2020

2020-05-17
PRICO realizes net loss of JD0.29 million in Q1 2020

2020-05-17
RSR posts net income of JD0.07 million in Q1 2020

2020-05-17
NIC reports net income of $1.18 million in Q1 2020

2020-05-17
PADICO realizes net loss of $0.52 million in Q1 2020

2020-05-17
JPH posts net income of $1.22 million in Q1 2020

2020-05-17
ISBK records net income of $3.09 million in Q1 2020

2020-05-17
JREI realizes net loss of $0.03 million in Q1 2020

2020-05-17
PALTEL posts net income of JD7.03 million in Q1 2020

2020-05-14
Scarce trading and a momentum in the substantial news

2020-05-13
BPC reports net income of $0.99 million in Q1 2020

2020-05-13
VOIC posts net income of JD0.33 million in Q1 2020

2020-05-13
AZIZA posts net income of JD0.99 million in Q1 2020

2020-05-13
LADAEN posts net income of JD0.009 million in Q1 2020

2020-05-13
PIIC posts net income of JD0.64 million in Q1 2020

2020-05-13
PSE realizes net loss of $0.01 million in Q1 2020

2020-05-13
JPH approves distributing 10% cash dividends for the year 2019

2020-05-13
ELECTRODE approves distributing 6% cash dividends for the year 2019

2020-05-10
PEC reports net income of $2.85 million in Q1 2020

2020-05-10
AIB posts net income of $2.00 million in Q1 2020

2020-05-10
GMC posts net income of JD0.19 million in Q1 2020

2020-05-10
ABRAJ posts net income of $0.08 million in Q1 2020

2020-05-07
Al-Quds Index in the red zone amid the start of Q1 2020 financial data disclosures

2020-05-05
PALTEL starts to pay the approved dividends distribution

2020-05-05
NAPCO realizes net loss of JD0.29 million in Q1 2020

2020-05-05
APIC posts $5.12 million net income in Q1 2020

 

 

 
Sahem Trading & Investments Company - PEX Member and licensed by PCMA
© All Rights Reserved 2013