Abu Dhabi’s Aldar Properties Q4 net profit jumps 28% on strong demand
The UAE developer Aldar Properties posted a Q4-2022 net profit of 1 billion dirhams ($272 million), up 28% year-on-year and beating estimates by a wide margin.
For the full year 2022 the net profit was up 35% at AED3.1 billion, the developer said in a statement on the Abu Dhabi Securities Exchange on Thursday.
The results topped the analysts’ mean profit estimates of AED699 million for Q4, and AED2.70 billion for FY as compiled by data provider Refinitiv.
Earnings per share (EPS) came in at AED0.36.
Group revenue for the quarter rose 39% on year to AED3.1 billion.
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