[ad_1]
Emaar Properties ‘quarterly profit fell 17% to MAD 903 million, but exceeded analysts’ expectations of MAD 820 million.
The company saw its quarterly turnover jump 125% to 6.5 billion dirhams, thanks to record sales in the second quarter of the year.
In contrast, the quarterly profits of Emaar Development Company jumped 90% to reach 730 million dirhams.
The results exceeded analysts’ expectations of 680 million dirhams, and revenues jumped 120% to 3.9 billion dirhams.
Emaar Malls recorded sales for the first half of 2021 amounting to 2,048 billion dirhams ($ 558 million), an increase of 23% compared to the same period last year.
Second quarter revenue for the period April to June 2021 increased 74% to AED 1.147 billion ($ 312 million), compared to the second quarter of 2020.
Renter sales are also up 77% compared to the first half of 2020 and higher than in 2019, despite the pandemic and its impact on tourism.
Source link
