Dubai – Mubasher: Deyaar Development posted a hike in net profit to AED 103.25 million during the first nine months (9M) of 2022, compared to AED 30.80 million in 9M-21.
Revenues enlarged to AED 577.15 million in January-September 2022, versus AED 418.15 million during the same period a year earlier, according to the financial results.
Basic and diluted earnings per share (EPS) stood at 2.36 fils in 9M-22, higher than 0.53 fils in 9M-21.
During the third quarter (Q3) of 2022, the company’s net profits surged to AED 36.34 million from AED 8.19 million in Q3-21, while the revenues jumped to AED 207.72 million from AED 120.73 million.
Moreover, the basic and diluted EPS increased to 0.83 fils during the July-September 2022 period, compared to 0.14 fils in the year-ago period.
Saeed Al Qatami, CEO of Deyaar, said: “With Midtown’s Mesk and Noor districts on track for handover, alongside the successes achieved by the Regalia and Tria projects in attracting more investors with sales record of more than AED 1.50 billion and the proposed Limitless settlement, we are confident in our ability to achieve even more positive results during the next quarter.”
In the first half (H1) of 2022, the DFM-listed firm posted a 196% year-on-year (YoY) leap in net profit to AED 66.90 million from AED 22.60 million.
