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Union Properties incurs AED 219m net loss in 2019

Union Properties incurs AED 219m net loss in 2019
Revenues registered AED 535.502 million
UPP
UPP
-1.21% 0.41 -0.01

Dubai – Mubasher: Union Properties logged a net loss of AED 218.806 million in 2019, against a net profit of AED 62.329 million in 2018, according to the company’s preliminary financial results.

The company’s revenues registered AED 535.502 million last year, down from AED 762.082 million in 2018.

The basic and diluted loss per share settled at AED 0.051 in 2019, compared to earnings per share (EPS) of AED 0.015 in the prior year.

It is noteworthy to mention that during the first nine months of 2019, the company incurred losses attributed to the shareholders worth AED 163.88 million, compared to profits of AED 145.606 million in the corresponding period of 2018.