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Emaar Properties’ net profits to equityholders leap 125% in 9M-22

Emaar Properties’ net profits to equityholders leap 125% in 9M-22
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-2.10% 5.60 -0.12

Dubai – Mubasher: Emaar Properties has recorded a surge of 125% year-on-year (YoY) in net profit attributable to the shareholders to AED 5.79 billion during the first nine months (9M) of 2022 from AED 2.57 billion.

The basic and diluted earnings per share (EPS) went up to AED 0.71 in 9M-22 from AED 0.36 in 9M-21, according to the consolidated income statements.

Emaar Properties generated revenue worth AED 18.90 billion during January-September 2022, lower than AED 19.12 billion in the corresponding period a year ago.

During the third quarter (Q3) of 2022, the real estate developer registered a 46% increase to AED 1.49 billion in net profit attributable to the owners of the parent company from AED 1.01 billion in Q3-21.

The basic and diluted EPS in Q3-22 rose to AED 0.18 from AED 0.14 in Q3-21, while the revenues declined to AED 5.32 billion from AED 6.76 billion.

In the first half (H1) of 2022, Emaar Properties logged net profits attributable to the equityholders worth AED 4.30 billion, compared to AED 1.56 billion in H1-21.

During the general assembly of the UAE developer on 21 September this year, the shareholders passed the takeover of Dubai Creek Harbour from Dubai Holding for an overall consideration of AED 7.50 billion ($2 billion).