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Al Ramz turns to profitability in 2021; dividends proposed

Al Ramz turns to profitability in 2021; dividends proposed
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Dubai – Mubasher: Al Ramz Corporation Investment and Development has achieved AED 54.52 million net profits in 2021, compared to net losses of AED 10.87 million in 2020, as shown by the company's consolidated financials for the year ended 31 December 2021.

The company generated AED 95.7 million revenues in 2021, up 52% from AED 62.8 million in the previous year.

The basic and diluted earnings per share (EPS) settled at AED 0.11 in 2021, versus losses per share of AED 0.02 in 2020.

Meanwhile, the board has recommended a 6% cash dividend distribution for 2021.

It is noteworthy to mention that in the first half (H1) of 2021, the company recorded net profits of AED 20.02 million, versus net losses of AED 47.04 million in the year-ago period.