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| Emaar records first half 2006 profits Global real estate major Emaar Properties PJSC has announced record revenue and net profits of AED 5.079 billion (US$ 1.383 billion) and AED 3.053 billion (US$ 0.831 billion) respectively, for the half year ended 30 June 2006. The revenue and profit for the second quarter of 2006 (April to June) were AED 2.840 billion (US$ 0.773 billion) and AED 1.536 billion (US$ 0.418 billion) respectively. Emaar's net profits for the first six months of the year gained by 21 per cent over the record first-half 2005 results of AED 2.533 billion (US$ 0.690 billion). Revenues for the half year grew 8 per cent over half-year 2005 results of AED 4.717 billion (US$ 1.284 billion). Net profits grew 1 per cent over the first quarter 2006 results of AED 1.517 billion (US$ 0.413 billion), and by 27 per cent over the net profit of AED 1.208 billion (US$ 0.329 billion) in second quarter 2005. Second quarter 2006 gross profit rose to AED 1.681 billion (US$ 0.458 billion), an increase of 13 per cent from AED 1.487 billion (US$ 0.405 billion) during the first quarter of 2006, and 40 per cent from AED 1.199 billion (US$ 0.326 billion) in the second quarter of 2005. During the first half of 2006, Emaar announced a number of international projects of development value AED 79.04 billion (US$ 21.52 billion). write your comments about the article :: © 2006 Construction News :: home page |