- The reported net profits demonstrate a positive growth trend for Rak Properties, highlighting the effectiveness of its strategic initiatives, operational efficiency, and prudent financial management practices.
Rak Properties unveils $11.3mln net profits in Q1-24
Meanwhile, the revenues increased to AED 289.81 million in Q1-24 from AED 258.58 million a year earlier, according to the consolidated financial results
Staff Writer, Mubasher
Rak Properties posted lower net profits after tax at AED 41.45 million in the first quarter (Q1) of 2024, compared to AED 44.60 million in Q1-23.
Meanwhile, the revenues increased to AED 289.81 million in Q1-24 from AED 258.58 million a year earlier, according to the consolidated financial results.
Total assets hit AED 6.68 billion as of 31 March 2024, versus AED 6.45 billion at the end of December 2023.
During the 12-month period that ended on 31 December 2023, the ADX-listed firm recorded an annual hike in net profit to AED 201.81 million, compared to AED 30.78 million.
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