Abu Dhabi – Mubasher: Eshraq Properties on Monday reported a 1,066.6% year-on-year hike in net profit for the second quarter of 2018.
Net profit amounted to AED 7 million in the three-month period ended June, versus AED 600,000 in Q2-17, the company said in filing to the Abu Dhabi Securities Exchange (ADX).
In the first half of 2018, the company has turned to profitability with AED 14.8 million, against AED 300,000 in losses during the same period a year earlier.
Finance income rose to AED 5.4 million in the six-month period ended June, versus AED 313,000 in H1-17.
Eshraq Properties previously posted a net profit of AED 7.7 million in Q1-18.
It is worth noting that the company’s financial income registered AED 2.6 million in the three-month period ended 31 March.
