Union Properties turns to losses in Q1-22

Dubai – Mubasher: Union Properties has incurred net losses of AED 12.48 million in the first quarter (Q1) of 2022, against net profits of AED 5.55 million in Q1-21, according to the company's unaudited consolidated financials.

The company's revenues increased by 7.6% to AED 105.73 million in the first three months (3M) of 2022 from AED 98.25 million in the year-ago period.

The basic and diluted losses per share (EPS) stood at AED 0.002 in Q1-22, versus earnings per share (EPS) of AED 0.001 in the same period of 2021.

Meanwhile, the property developer has logged accumulated losses of AED 2.94 billion as of 31 March 2022, accounting for 68.55% of the company's capital.

It is noteworthy to mention that in 2021, Union Properties has logged net losses of AED 966.75 million, against net profits of AED 200.98 million in 2020.

Mubasher Contribution Time: 15-May-2022 09:02 (GMT)
Mubasher Last Update Time: 15-May-2022 09:02 (GMT)