Dubai – Mubasher: Union Properties shifted to net profits amounting to AED 17.71 million in the first half (H1) of 2023, against net losses worth AED 12.19 million in H1-22.
The revenues hit AED 240.84 million in H1-23, marking a year-on-year (YoY) rise from AED 204.46 million, according to the unaudited financial results.
Basic and diluted earnings per share (EPS) reached AED 0.004 during the first six months (6M) of 2023, compared with a loss per share of AED 0.002 in the year-ago period.
Income Statements for Q2-23
The DFM-listed firm posted lower net profits at AED 5.41 million during the second quarter (Q2) of 2023, versus AED 285,000 in Q2-22.
Revenues jumped to AED 118.70 million in Q2-23 from AED 98.72 million in Q2-22, while the basic and diluted EPS increased to AED 0.0013 from AED 0.0001
Amer Khansaheb, Managing Director of Union Properties, said: "The current increase in net profit also represents Union Properties’ steadfast commitment to maintaining transparency with the market and its clients.”
“Looking ahead with the steady growth in Dubai's Real Estate Market, the group seeks to stimulate its expansion and growth plans,” Khansaheb added.
As of 31 March 2023, Union Properties swung to net profits valued at AED 12.29 million, against net losses worth AED 12.48 million in Q1-22.
