14/08/2018 07:32 AST

Abu Dhabi-listed Eshraq Properties reported a first-half net profit of Dh14.8 million, compared to a loss of Dh0.32 million in the first half of 2017. The property firm said in a press statement that the new figures are their best half-year since the first half of 2014.

In the second quarter. net profit was Dh7 million, up from Dh0.64 million in the second quarter of 2017. The real estate firm’s board has now recommended a share buyback to help optimise its capital structure. The proposal will be put to shareholders at its next general assembly meeting.

Ehsraq chairman Jassim Al Seddiqi said, “Eshraq’s half-yearly results show the extent of work that has been done to stabilize the Company and allow it to benefit from the opportunities offered by the real estate sector in the UAE.

“Our vision for Eshraq is to be a prominent real estate developer in the UAE and the region. We are keen to deliver real and substantial returns to our shareholders.”

The firm attributed its leap in profitability to a strong performance in its hosptiality and leasing portfolios. It said it had achieved 96.5 per cent occupation in its lease properties during the half, with Nuran Marina hotel appartments reaching 91.3 per cent occupancy.

It said it was making steady progress across all its major projects in Dubai and Abu Dhabi, and looked forward to completing them all on time and within budget.


Gulf News

Abu Dhabi's Eshraq Properties drops merger plans with Reem Investments

27/06/2018

Eshraq Properties has dropped plans to merge with fellow Abu Dhabi developer Reem Investments, after the two companies could not agree on the terms of the transaction, the company said on Tuesday.

The National

Ehsraq swings back to profit in Q1

14/05/2018

Eshraq Properties on Sunday said it had swung back to profit in the first quarter.

The company reported a net profit of Dh7.75 million for the first quarter 2018 against a net loss of Dh0.9

Gulf News

Eshraq Properties swings to profit in 2017

16/02/2018

Eshraq Properties reported a net profit of Dh32.2 million last year compared to a net loss of Dh301 million in 2016.

The company which is involved in the development of various projects in

Gulf News

Ticker Price Volume
UGH 1.12 0
BATELCO 0.25 13,000
NBB 0.60 0
GFH 0.38 1,792,550
BNH 0.39 0
ALBH 0.63 103,108
ARIG 0.42 0
ESHRAQ Sector Market
P/E
Price/BookValue
Dividend Yield (%)
Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
ERES 10.70 0.10 (0.94%)
BRES 35.89 0.58 (1.64%)
MABANEE 700.00 7.00 (1.01%)
UDCD 13.90 0.00 (0.00%)
REAM 1,572.00 0.00 (0.00%)
Shaker Group narrows Q1 losses, nets good revenue growth

20/06/2020

Saudi-based Al Hassan Ghazi Ibrahim Shaker Company (Shaker Group), a leading importer, manufacturer and distributor of air conditioners and home appliances, has recorded a first quarter net loss of S

Trade Arabia

Work in full swing at Adnoc refining, petchem project sites

20/06/2020

Abu Dhabi National Oil Company (Adnoc) has announced that steady progress is being made on the development and expansion of refining, petrochemical and derivatives sites within its Ruwais Industrial

Trade Arabia

Ooredoo webinar with Plug and Play focuses on business ecosystem

18/06/2020

Ooredoo recently held a webinar that shared learnings and insights into best innovation practices for the business ecosystem. The live "Best Practices" webinar, held on June 10, was co-hosted with Si

Gulf Times

OAB merger with Alizz on track

18/06/2020

Consolidation in the Omani banking sector is a crucial need of the hour so that the sector could grow and stay competitive. Yet, we have not witnessed much progress to date on a wider scale. Despite

Times of Oman

Barwa Bank names winners of Thara’a draw

18/06/2020

Barwa Bank announced yesterday the names of the winners of the most recent round of Thara’a draw, its Shariah-compliant savings promotional scheme, at the Bank’s headquarters. As the draw results sho

The Peninsula