Abu Dhabi – Mubasher: The net profits of Eshraq Investments enlarged to AED 481.47 million in the first nine months (9M) of 2022, compared to AED 35.13 million in 9M-21.
Revenues from commercial operations stood at AED 29.52 million in January-September 2022, a hike from AED 15.27 million in the year-ago period, according to the income statements.
The basic and diluted earnings per share (EPS) rose to AED 0.28 in 9M-22 from AED 0.02 in 9M-21.
In the third quarter (Q3) of 2022, the net profits jumped to AED 474.18 million from AED 17.17 million in Q3-21, while the revenues from commercial operations widened to AED 8.72 million from AED 5.08 million.
Furthermore, the basic and diluted EPS settled at AED 0.28 in Q3-22, versus AED 0.01 in Q3-21.
Jassim Alseddiqi, Chairman of Eshraq Investments, said: "Key initiatives - whether it be the completion of the acquisition of Goldilocks, the implementation of the share buyback programme or the land monetization programme - are well underway and reflected in improved profitability and shareholder returns."
In the first half (H1) of 2022, Eshraq Investments generated consolidated net profits worth AED 7.28 million, lower by 59% year-on-year (YoY) than AED 17.95 million.
Last August, the ADX-listed firm took over 99.25% of Goldilocks Investment Company’s shares.
