Manazel Real Estate logs AED 220.6m net profit in 12M

Abu Dhabi – Mubasher: Manazel Real Estate Company on Thursday posted a 7% increase in net profit during the full-year 2017, registering AED 220.6 million, compared to AED 206.5 million a year earlier.

That increase can be attributed to the progress made in constructions and sales of Manazel’s Al Reef 2 Project, along with the growth of the company’s cash flows, the Abu Dhabi Securities Exchange (ADX) listed developer said in a statement.

The UAE-based firm’s revenues surged 15.12% to AED 861.87 million in the last four quarters from AED 748.616 million in the year before.

Manazel’s assets grew 5.9% year-on-year to AED 4.978 million in 2017, the company’s data showed.

Mubasher Contribution Time: 15-Feb-2018 12:15 (GMT)
Mubasher Last Update Time: 15-Feb-2018 12:18 (GMT)

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