Union Properties turns to losses in 2021

Dubai – Mubasher: Union Properties has logged net losses of AED 966.75 million in 2021, against net profits of AED 200.98 million in 2020, according to the company's consolidated financials for the year ended 31 December 2021.

The real estate developer recorded revenues from contracts with customers of AED 398.69 million in 2021, down from AED 375.86 million in the earlier year.

The basic and diluted losses per share stood at AED 0.22 last year, versus earnings per share (EPS) of AED 0.04 in 2020.

Meanwhile, the company incurred accumulated losses of AED 2.92 billion as of 31 December 2021, representing 68.3% of the capital.

It is noteworthy to mention that during the first nine months (9M) of 2021, the company reported a decline in net profits to AED 1.369 million, compared to AED 348.779 million in the year-ago period.

Mubasher Contribution Time: 27-Mar-2022 06:53 (GMT)
Mubasher Last Update Time: 27-Mar-2022 06:53 (GMT)