Abu Dhabi – Mubasher: RAK Properties on Sunday reported a net profit growth of 25% to AED 18.54 million ($5.05 million) for the first three months of 2016, from AED 14.86 million ($4.05 million) in the same period the year before.
Revenues were up 53.1% in Q1-16 to AED 71.58 million, compared to AED 46.75 million in the year-ago period, according to a filing to the Abu Dhabi Securities Exchange (ADX).
RAK Properties previously posted a profit increase of 2.8% in FY15 to AED 16 million, from AED 155.74 million in FY14.
The real estate firm’s stock stablised on Thursday at AED 0.55 after 3.13 million shares were traded at a turnover of AED 1.72 million.
