|
Abu Dhabi: Sorouh Real Estate yesterday announced a net profit of Dh156 million for the third quarter of 2006.
The Abu Dhabi listed company said it earned a cumulative profit of Dh479 million for the period ended September 2006.
Earnings per share stood at 19 fils.
Saeed Al Ghafli, Sorouh's chairman, said the highlights of the third-quarter performance were the 16 per cent growth in revenues and the continuous investment in the company's projects. "These indicated that the company was committed to delivering projects on time and that it was well placed to grow the business."
Sorouh only completed its first year in September this year.
Al Ghafli also said that Sorouh's current portfolio of diverse projects were in line with the company's strategic objectives and will continue to deliver increased earnings and enhanced shareholder value.
Sorouh's total assets grew to Dh3.563 billion in the third quarter from Dh3.424 billion in the second quarter.
Over the same period, shareholders equity grew to Dh2.974 billion from Dh2.818 billion.
Sorouh attributed the growth in its assets to the investments that are being made in the company's properties now under development.
|
