The financial statements of the UAE company Eshraq Investments showed the company's turn to profitability last year compared to losses in 2020.
According to the company's results on the official website of the Abu Dhabi Securities Exchange, today, Wednesday, profits last year amounted to 38.4 million dirhams, compared to losses in 2020 of 80 million dirhams.< /p>
The company explained that the accumulated losses in 2021 amounted to about 1.039 billion dirhams, due to the cancellation of sales in 2014 and a re-evaluation of existing real estate investments under development in previous years.
The company's accumulated losses constituted about 44.7% of the capital amounting to 2.325 billion dirhams.
With regard to the measures that will be taken to address the accumulated losses, the company said that it has adopted the effective distribution of capital to achieve more profitability and gradually reduce the accumulated losses.
