Emaar Properties recorded a decrease in profits by 58% to reach 2,617 million dirhams by the end of 2020, compared to 6,200 million dirhams in 2019.
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According to the company’s statement in the Dubai Financial Market, the company attributed the decline in profits to a decrease in the profit margin to 35.5% compared to 47% during 2019, due to a 20% decrease in revenues Compared to the same period of the previous year.
also due to the increase in losses of the share of the results of the sister companies by 355% to reach 582 million dirhams compared to 128 million dirhams during the same period last year, in addition to Selling, marketing and general expenses increased slightly to 4509 million dirhams, compared to 4450 million dirhams during the same period in 2019.
