Quotes: 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
 May 4 2016 - Ferocious fighting in Syria's Aleppo after rebel offensiveThe Peninsula
(MENAFN - The Peninsula) Syrian opposition forces attack Assad Regime headquarters at Al-Zahraa district from Leyramun region of AleppoSyriaon May 3 2016. Anas Sabagh/ Anadolu Agency ...

 May 4 2016 - Rihanna to perform in Abu DhabiThe Peninsula
(MENAFN - The Peninsula) Doha: Rihanna is performing in Abu Dhabi later this year. Her act will be part of the Abu Dhabi Grand Prix in November. Her show will be part of the Yasalam After-Race ...

 May 4 2016 - Kuwait's GDP growth slips to 7.5 percentMENAFN
(MENAFN) Credit growth viewed a moderate gain in Feb, though growth slipped to 7.5 percent, while whole credit was up by USD 275.6mn during the month.Furthermore, household debt posted smaller gains ...

 May 4 2016 - UAE's output sector increases steadilyMENAFN
(MENAFN) UAE's output, new orders and input increased more slowly, whereas the main effort on the sector was inactivity in employment.However, cost pressures remained quiet and charges continued to ...

 May 4 2016 - Kuwait- His Highness the Amir receives His Highness the CP Speaker Acting PMKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT May 4 (KUNA) -- His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah received at Bayan Palace on Wednesday His Highness the Crown Prince Sheikh ...

 May 4 2016 - Child born on Dubai-Philippines flight buried in IndiaKhaleej Times
(MENAFN - Khaleej Times) A Filipina nurse returning to her country from Dubai gave birth on an airplane last week but lost her prematurely-born child at an Indian hospital Indian media reported on ...

 May 4 2016 - Abu Dhabi's address system nearing completionKhaleej Times
(MENAFN - Khaleej Times) The new addressing system in the capital has completed 90 per cent of the work the Abu Dhabi City Municipality has said. The Department of Municipal Affairs and Transport ...

 May 4 2016 - Pakistan: No military action against Afghan Taliban on its soilThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) >Pakistan is rejecting Afghan demands for military action against Taliban commanders within Pakistan and emphasizes the need to continue talks for a ...

 May 4 2016 - UN resolution aims to protect medical and aid workersThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) >The United Nations Security Council has adopted a resolution on the protection of medical personnel and facilities in conflict zones. The resolution ...

 May 4 2016 - Intra-Yemeni peace talks to resumeEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) KUWAIT 4th May 2016 (WAM) -- The three Yemeni negotiating teams are expected resume the peace talks later today three days after the government delegation ...

 May 4 2016 - Gargash: UAE needs faithful intellectual efforts to enhance its developmentEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 4th May 2016 (WAM) -- Dr. Anwar bin Mohammed Gargash Minister of State for Foreign Affairs has said that the UAE in its march towards development ...

 May 4 2016 - Emir of Qatar receives UAE AmbassadorEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DOHA 4th May 2016 (WAM) -- Sheikh Tamim bin Hamad Al Thani Emir of the State of Qatar has received Saleh Mohamed bin Nasra Al Amri UAE Ambassador to Qatar. ...

 May 4 2016 - UAE- Gargash honours winners of Sultan bin Ali Al Owais Cultural FoundationEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 4th May 2016 (WAM) -- Dr. Anwar bin Mohammed Gargash Minister of State for Foreign Affairs and Chairman of the Board of Trustees of the Sultan bin Ali ...

 May 4 2016 - UAE- ADNOC announces crude prices for AprilEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 4th May 2016 (WAM) -- Abu Dhabi National Oil Company ADNOC has announced its crude oil prices for April. A company statement said that the ...

 May 4 2016 - UAE- Armed Forces celebrate graduation of fifth batch of National Service traineesEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) AL AIN 4th May 2016 (WAM) -- H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum Crown Prince of Dubai H.H. Sheikh Maktoum bin Mohammed bin Rashid Al ...

 May 4 2016 - Prosecutor says spying charges 'unfounded' in Cumhuriyet journalists' trialThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Public prosecutor Evliya Çalkan has said “espionage” charges against daily Cumhuriyet journalists Can Dündar and Erdem Gül who ...

 May 4 2016 - Turkey- MHP: Merkel using visa liberalization as 'carrot' for ncirlikThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Turkey’s primary nationalist opposition party leader has suggested thatGermanChancellorAngela Merkelhas been using an EU visa liberalization process ...

 May 4 2016 - Two rockets hit Turkey's KilisThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Two Katyusha rockets fired from Islamic State of Iraq and the Levant (ISIL)-controlled territory in Syria hit the southeastern border town of Kilis early on ...

 May 4 2016 - Abu Dhabi enters in collaboration with ChinaMENAFN
(MENAFN) Abu Dhabi has entered into collaboration with an Asian financial regulator, with the signing of an agreement with the China Banking Regulatory Commission.Moreover, the Abu Dhabi free zone ...

 May 4 2016 - Abu Dhabi- Gulf Capital to invest USD 1bnMENAFN
(MENAFN) Gulf Capital aims investments of USD 1bn as the private equity firm takes advantage of low valuations.Accordingly, it will be a great time to invest due to more deal flow, more firms, better ...

more...


 






Google

 
 

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

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

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
Economic Calendar
Financial Glossary


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


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help