UAE's Aldar reports 25% jump in Q2 net profit, beats estimates
The effort easily beat analysts' mean estimate of AED 1.82 billion, according to data provider LSEG.
The Abu Dhabi-listed company reported AED 7.7 billion in revenue for the quarter, a 46% YoY growth.
The company also saw a jump in its H1 figures, with net profit after tax rising 24% YoY to AED 4.1 billion.
Assets under management reached AED 47 billion, with the company reporting AED 12.2 billion in free and unrestricted cash, and AED 17.5 billion in committed undrawn bank facilities as at end of June.
Aldar's development backlog rose to AED 62.3 billion, including AED 53.4 billion in UAE.
(Writing by Bindu Rai, editing by Brinda Darasha)
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