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Aldar records rise in Q1-22 unaudited profits

Aldar records rise in Q1-22 unaudited profits
Aldar
ALDAR
-1.79% 5.48 -0.10

Abu Dhabi – Mubasher: The net profits attributable to the equity holders of Aldar Properties jumped to AED 667.91 million in the first quarter (Q1) of 2022 from AED 542.74 million in the same quarter of 2021, according to the company's unaudited consolidated financials for the three-month period ended 31 March 2022.

The company's revenues increased by 31.5% year-on-year (YoY) to AED 2.68 billion in Q1-22 from AED 2.04 billion.

The real estate developer recorded a 22.5% YoY rise in the earnings before interest, taxes, depreciation, and amortisation (EBITDA) to AED 806 million in Q1-22.

The basic and diluted earnings per share (EPS) settled at AED 0.08 in the first three months (3M) of 2022, against AED 0.06 in the year-ago period.

It is noteworthy to mention that in 2021, the company's net profits attributable to the owners climbed by 21% YoY to AED 2.32 billion from AED 1.93 billion.