Abu Dhabi – Mubasher: Manazel Real Estate, listed on the secondary market of the Abu Dhabi Securities Exchange (ADX), announced a 19.6% decline in its profits for 2014.
The company reported a net profit of AED 151.65 million ($41.3 million) in FY14 compared to AED 188.7 million ($51.4 million) in FY13.
Profits for the mother company retreated to AED 137.12 million against AED 169.4 million in 2013.
Earnings per share (EPS) also declined to AED 0.05 against AED 0.07 the year before.
Manazel was listed on the ADX’s secondary market on 25 November 2014 as part a private joint stock company.
The secondary market is for listing the stocks of private-sector joint stock companies on a private market.
