Parkin, listed on the Dubai Financial Market, reported a 5.68 percent year-on-year increase in its first-half profits.
The company achieved a profit in the first six months of this year of 198.8 million dirhams, compared to profits estimated at 188.1 million dirhams during the comparison period.
The company's business results showed a 10 percent increase in revenues, compared to revenues for the same period in 2023, in addition to the first half 2023 results including corporate cost allocation expenses of AED 57.5 million, compared to nothing during the current period.
It reported that maintenance expenses decreased by 42 percent, reaching AED 7.8 million, compared to AED 13.4 million during the same period in 2023.
Employee benefits expenses also decreased by 39 percent to AED 43.9 million, compared to AED 71.4 million at the end of the first half of 2023.
It explained that the value of trade receivables decreased by 17 percent to reach 7.5 million dirhams, compared to 9 million dirhams during the same period in 2023.
Parkin's earnings in the first quarter of 2024 grew by 5 percent year-on-year.
The company achieved a profit in the first three months of this year of AED 103.7 million (3.5 fils/share), compared to profits of AED 98.9 million achieved during the same period in 2023.
