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| Emaar net profits for 2006 up by 35% Dubai-based real estate developer Emaar Properties PJSC has recorded an impressive growth of 35 per cent in annual profits for the year ended December 31, 2006 compared to year 2005. Emaar posted a record annual net profit of AED 6.371 billion (US$ 1.735 billion) compared to AED 4.731 billion (US$ 1.288 billion) in year 2005. Annual revenue increased by 68 per cent from AED 8.361 billion (US$ 2.276 billion) to AED 14.006 billion (US$ 3.813 billion). Earnings per share (EPS) for the year 2006 was AED 1.06 (US$ 0.29) compared to AED 0.85 (US$ 0.23) during 2005. Emaar recorded fourth-quarter revenue and net profits of AED 5.548 billion (US$ 1.510 billion) and AED 1.713 billion (US$ 0.466 billion) respectively. This was 64 per cent more than the third-quarter revenue of AED 3.379 billion (US$ 0.920 billion) and 7 per cent more than the net profit of AED 1.605 billion (US$ 0.437 billion) for the period ended September 30, 2006. The fourth-quarter figures represent a growth of 246 per cent in revenue and 65 per cent in net profit respectively over the fourth-quarter 2005 revenue and profit of AED 1.604 billion (US$ 0.437 billion) and AED 1.041 billion (US$ 0.283 billion), respectively. write your comments about the article :: © 2007 Construction News :: home page |