Abu Dhabi – Mubasher: Eshraq Properties on Sunday reported turning to profitability in the third quarter of 2017 against losses in the prior year period.
The real estate company posted AED 685,000 ($186,450) in profits in the period between July and September, against AED 48.49 million ($13.19 million) in the same period of 2016, according to a filing to the Abu Dhabi Securities Exchange (ADX).
Operating losses dropped to AED 13.6 million in Q3-17 from AED 92.49 million in the year-ago period.
As for the first nine months of 2017, Eshraq Properties also turned to profitability with AED 367,000 versus AED 91.150 million in losses in the year-ago period, according to the statement.
The Abu Dhabi-listed real estate developer had previously announced turning a profit with AED 636,000 in Q2-17.
