Abu Dhabi – Mubasher: Aldar Properties showed an 11% decrease in net profits to AED 1.2 billion in the first nine months of 2020 from AED 1.36 billion in the same period of the previous year.
The company's revenues climbed by 17% to AED 5.86 billion in the January-September period of 2020 from AED 5.03 billion in the corresponding period of 2019, according to a press release on Thursday.
During the third quarter (Q3) of 2020, the company's net profits increased by 8% to AED 416 million, compared to AED 387 million in the year-ago period.
The company's revenues hiked by 30% to AED 2.09 billion in Q3-20 from AED 1.61 billion in Q3-19.
The CEO of Aldar, Talal Al Dhiyebi, said: "Given the company’s balance sheet strength and robust cash position, Aldar continues to actively pursue opportunities to invest in both our development pipeline and in expanding our investment portfolio."
It is noteworthy to mention that in the first half (H1) of 2020, the company's net profits dropped to AED 786.46 million from AED 1.02 billion during the same half of 2019.
