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Manazel’s profit grows 4.3% YoY in 2019

Manazel’s profit grows 4.3% YoY in 2019
Revenues surged to AED 946.85 million
Manazel
MANAZEL
-0.34% 0.29 -0.00

Abu Dhabi – MubasherManazel Real Estate has posted a 4.3% year-on-year profit hike during the fiscal year 2019.

The company’s net profit went up to AED 240.6 million last year, compared to AED 230.7 million in 2018, according to a bourse statement released on Thursday.

The Abu Dhabi-listed developer’s revenues surged to AED 946.85 million in 2019, from AED 809.27 million a year earlier.

In 2019, Manazel’s assets increased to AED 5.87 billion, against AED 5.49 billion in the year-ago period.