Abu Dhabi – Mubasher: Rak Properties witnessed a plunge in net profit to AED 30.78 million in 2022, versus AED 201.47 million in 2021.

Revenues stood at AED 408.21 million last year, lower than AED 515.62 million in January-December 2021, according to the consolidated financial results.

The basic and diluted earnings per share (EPS) attributable to the owners plummeted to AED 0.01 in 2022 from AED 0.10 in 2021, while the total assets jumped to AED 6.31 billion from AED 6.21 billion.

In the first half (H1) of 2022, the ADX-listed company registered AED 25.55 million net profits, compared to AED 119.80 million in the six-month period that ended on 30 June 2021.