Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Al Mazaya Holding posts 588% jump in net profits  Join our daily free Newsletter

MENAFN - Khaleej Times - 25/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Al mazaya holding company announced its financial results for the first quarter of the year 2014 confirming a net profit of dh19.

compared to the dh2.78 million recorded over the same period in 2013 the figure represents an increase by 588 per cent. dividends per share amounted to 3.08 fils per share compared to 0.44 fils in 2013.

ibrahim al saqabi the group ceo said that al mazaya holding company had achieved a quantum leap in its fiscal results during the first quarter of the year 2014 by virtue of the company’s focus on operational activities through increasing the occupancy rate in its income-generating projects which led to an increase in the rental revenues of the company by 36 per cent valued at dh15.6 million by the end of the first quarter of 2014 compared to dh11.2 million for the same period in 2013.

this included the sky gardens project in dubai international financial centre in which the occupancy rate reached up to 95 per cent and al mazaya towers at the heart of the kuwaiti capital with an occupancy rate ranging between 75 and 100 per cent in addition to its projects in a number of the region’s countries such as the ksa and dubai in which the occupancy rates of the company’s projects reached 100 per cent.

the company also succeeded in achieving an increase in its operational revenues resulting from managing others’ projects by 37 per cent with a value of dh4.6 million compared to dh3.4 million during the same period in 2013.

first dubai profit rises

first dubai a subsidiary of al mazaya holding company announced that the company’s total operational revenues stood at dh17.3 million at the end of the first quarter of 2014 compared to dh9.2 million for the same period in 2013.

abdul aziz al loughani the chairman of the board of directors of first dubai real estate development company said that first dubai managed to achieve a remarkable rise in its operational revenues of 88 per cent compared to the same period in 2013 by virtue of the focus on the operational revenues resulting from the sale of its real estate projects and rental of a number of income-generating projects.

revenues resulting from the available properties for sale reached to dh11.3 million with an increase of 162 per cent. revenues from the income-generating projects stood at dh6.1 million at the end of the first quarter of 2014 compared to dh4.9 million for the same period in 2013 a leap by 24 per cent thus achieving net profit valued at dh8.1 million and profitability of dh8.2 per share.

— business?khaleejtimes.com


 


Khaleej Times




  MENA News Headlines
 Sep 21 2014 - Kuwait Bourse Indices Close in GreenQatar News Agency
(MENAFN - QNA) Main indices of the Kuwaiti bourse were in the green zone upon closing on Sunday with the weighted, the price, and the KSX 15 indices up by 1.67, 13.85, and 4.72 points ...

 Sep 21 2014 - Elaraby Discuss Support of Palestinian Rights with Australian FMQatar News Agency
(MENAFN - QNA) Arab League Secretary-General Dr. Nabil Elaraby discussed with Australian Foreign Minister Julie Bishop on the sidelines of the 69th session of the United Nations General Assembly. ...

 Sep 21 2014 - Dr Al-Awadhi outlines Alzheimer's symptoms advises 'special care'Arab Times
(MENAFN - Arab Times) KUWAIT CITY Sept 20 (KUNA): Kuwait along with other nations of the globe mark Sept 21 as 'World's Alzheimer Day' a widelyspread illness suffered by approximately 35 million ...

 Sep 21 2014 - Gold Prices Continue to FallQatar News Agency
(MENAFN - QNA) Gold price continued dropping for the past eight months to reach its lowest at USD 1,214 per ounce amid hike of the US dollar, said an economic report on Sunday. Sabaek Company ...

 Sep 21 2014 - Qatar Confirms Human Rights Promotion is Strategic OptionQatar News Agency
(MENAFN - QNA) The State of Qatar has confirmed that the issue of promoting and protecting human rights is a strategic option for the state and forms the backbone of the comprehensive reform, ...

 Sep 21 2014 - Qatar Confirms Human Rights Promotion is Strategic Option -1-Qatar News Agency
(MENAFN - QNA) HE Assistant Foreign Minister for International Cooperation and Head of Qatar's delegation in front of the Human Rights Council Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani said ...

 Sep 21 2014 - Industries Qatar Announces Changes to Board of Directors and Executive ManagementQatar News Agency
(MENAFN - QNA) Industries Qatar (IQ) issued a brief statement regarding changes by Qatar Petroleum to IQ's Board of Directors and executive management in line with its authority under IQ's Articles ...

 Sep 21 2014 - HH the Emir Sends Congratulations to Presidents of Malta and ArmeniaQatar News Agency
(MENAFN - QNA) HH the Emir Sheikh Tamim bin Hamad Al-Thani sent Sunday a cable of congratulations to President of the Republic of Malta Marie Louise Preca on the occasion of her country's National ...

 Sep 21 2014 - HE Premier Sends Congratulations to Presidents of Malta and ArmeniaQatar News Agency
(MENAFN - QNA) HE the Prime Minister and Interior Minister Sheikh Abdullah bin Nasser bin Khalifa Al-Thani sent Sunday a cable of congratulations to President of the Republic of Malta Marie Louise ...

 Sep 21 2014 - HH the Emir Receives Written Message from Gambia's PresidentQatar News Agency
(MENAFN - QNA) HH the Emir Sheikh Tamim bin Hamad Al-Thani has received a written message from President of the Republic of Gambia Yahya Jammeh pertaining to bilateral relations and issues of common ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help