Dubai, Asharq Al-Awsat-, global property developer Emaar Properties PJSC has recorded a growth of 35 per cent in annual profits for the year ended December 31, 2006 compared to year 2005.
Emaar posted a record annual net profit of US$ 1.735 billion compared to US$ 1.288 billion in year 2005. Annual revenue increased by 68 per cent from US$ 2.276 billion to US$ 3.813 billion. Earnings per share (EPS) for the year 2006 were US$ 0.29 compared to US$ 0.23 during 2005.
Emaar recorded fourth-quarter revenue and net profits of US$ 1.510 billion and US$ 0.466 billion respectively. This was 64 per cent more than the third-quarter revenue of US$ 0.920 billion and 7 per cent more than the net profit of US$ 0.437 billion for the period ended September 30, 2006.
The fourth-quarter figures represent a growth of 246 per cent in revenue and 65 per cent in net profit respectively over the fourth-quarter 2005 revenue and profit of US$ 0.437 billion and US$ 0.283 billion, respectively.