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RAK Properties sees 348% higher profits in H1-21

RAK Properties sees 348% higher profits in H1-21
The company's revenues rose by 121%
RAK Properties
RAKPROP
-1.13% 0.70 -0.01

Abu Dhabi – Mubasher: The net profits of RAK Properties increased by 348% to AED 119.809 million during the first half (H1) of 2021 from AED 26.729 million in the year-ago period, as shown by the company's unaudited interim consolidated financials for the period ended 30 June 2021.

The company's revenues rose by 121% to AED 265.099 million during the first six months of 2021 from AED 120.018 million in the same period of 2020.

The basic and diluted earnings per share (EPS) stood at AED 0.060 in H1-21, against AED 0.013 in H1-20.

It is noteworthy to mention that during the first quarter (Q1) of 2021, the company's net profits reached AED 64.13 million, up by 433% year-on-year (YoY) from AED 12.04 million.