Business Services Industry
Emaar posts record third-quarter profits of AED 1.605 billion.
Middle East and North Africa Business Report, October, 2006
Oct. 15--Global real estate major Emaar Properties PJSC has announced record revenue and net profits of AED 3.379 billion (US$ 0.920 billion) and AED 1.605 billion (US$ 0.437 billion), respectively, for the third quarter ended September 30, 2006. In annualized terms, this equates to an earnings per share (EPS) of AED 1.04, which is more than the 2005 EPS of AED 0.85. The third quarter 2006 figures represent a growth of 66 per cent in revenue and 39 per cent in profit respectively over the third quarter 2005 revenue and profit of AED 2.040 billion (US$ 0.555 billion) and AED 1.157 billion (US$ 0.315 billion) respectively.
Revenue and net profit also grew 19 per cent and 4 per cent respectively over the second quarter 2006 revenue of AED 2.840 billion (US$...
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