Abu Dhabi – Mubasher: The net profits of Rak Properties reached AED 105.16 million in the first nine months (9M) of 2023, marking a 282% hike from AED 27.54 million in 9M-22.
Revenues stood at AED 685.56 million during January-September 2023, an annual surge of 137% from AED 289.58 million.
Basic and diluted earnings per share (EPS) edged up to AED 0.05 in 9M-23 from AED 0.01 a year earlier, according to the initial financial statements.
Total assets hit AED 6.37 billion in 9M-23, compared to AED 6.31 billion as of 31 December 2022.
Financials for Q3-23
In the third quarter (Q3) of 2023, the company recorded a year-on-year (YoY) leap in net profit to AED 16.98 million, compared to AED 1.99 million.
The revenues grew to AED 173.92 million in Q3-23 from AED 95.58 million in Q3-22, while the basic and diluted EPS increased to AED 0.008 from AED 0.001.
During the first half (H1) of 2023, the ADX-listed firm achieved net profits worth AED 88.18 million, higher than AED 25.55 million in H1-22.
