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FINANCIAL NEWS
UAE’s RAK Properties profit up in H1
05 Aug 2014
(MENAFN) RAK Properties, listed on the Abu Dhabi Stock Exchange, reported a USD14.15 million net profit in the first six months of the current year, according to the Emirates 24/7.
The company said that its net profit boosted slightly during the half compared to the same period 2013, which was USD13.88 million.
Revenues of RAK were estimated at USD40.55 million, while total sales value reached USD63.69 million in the first half of the current year.
RAK Properties’ current total assets are valued at USD1.279 billion. The first half of 2014 saw the commencement of construction works for the company’s Flamingo Villas project in the Mina Al Arab area, comprising of 124 villas.
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