Union Properties achieved profits of AED 211.42 million in 2016 (Photo Credit: Company Website)
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Dubai – Mubasher: Union Properties reported a 76.4% decline year-on-year in the fourth quarter of 2016, according to a bourse statement.
Profits reached AED 65.27 million ($17.77 million) in Q4-16, compared to AED 276.44 million in Q4-15.
The company achieved profits of AED 211.42 million in 2016, down 51.4% from AED 434.61 million in 2015.
Revenues declined 22.5% to AED 1.135 billion in 2016, compared to AED 1.465 billion in 2015.
Source:
Mubasher
