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Sorouh net profit rises to Dh83.6m on higher revenue - Zameen News

Sorouh net profit rises to Dh83.6m on higher revenue

October 31, 2011 • news

Abu Dhabi: Sorouh Real Estate's third quarter net profit increased to Dh83.6 million due to more handovers and higher rental income compared with Dh62.9 million for the corresponding period in 2010.

"Net profit for the nine-month period was Dh285 million compared to Dh215 million," said chief financial officer Richard Amos.

"Sorouh's third-quarter revenues more than doubled to Dh890 million compared with Dh388 million for the same period in 2010," Amos added.

He said the company maintained a strong balance sheet with net assets of Dh6.5 billion at the end of the third quarter compared with Dh6.2 billion for the same period of 2010.

[Gulf News]