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Emaar Properties' net profits rise 8% in Q1-21

Emaar Properties' net profits rise 8% in Q1-21
The company generated revenues of AED 5.993 billion in Q1-21
Emaar
EMAAR
0.25% 8.17 0.02

Dubai – Mubasher: The net profits of Emaar Properties increased by 8% to AED 657 million in the first quarter (Q1) of 2021 from AED 609 million in the same quarter of 2020.

The company generated revenues of AED 5.993 billion in Q1-21, up 12% from AED 5.328 billion in Q1-20, according to a press release on Monday.

Meanwhile, Emaar's sales backlog rose to AED 41.805 billion, which will be recognised as revenues in the coming years.

The earnings per share (EPS) stood at AED 0.09 in the first three months of 2021.

It is noteworthy to mention that in 2020, the company's net profits plunged to AED 2.617 billion, compared to AED 6.2 billion in 2019.