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MarketScreener Homepage  >  Equities  >  DUBAI FINANCIAL MARKET  >  Emaar Properties PJSC    EMAAR   AEE000301011

EMAAR PROPERTIES PJSC

(EMAAR)
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Emaar Properties first quarter net profit flat

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05/15/2019 | 12:39pm EDT

Dubai:Emaar Properties said on Wednesday its net profit and revenues remained flat in the three months to March.

Net profit came in almost flat at Dh2.27 billion in the first quarter, while revenues came in at Dh5.87 billion. Total assets stood at Dh112 billion till March 31. Cash balance was at Dh8 billion. Emaar Properties shares closed 2.29 per cent lower at Dh4.27 in a weak Dubai market.

Emaar Development’s net profit in the March quarter fell Dh1.03 billion from Dh1.16 billion. Revnues rose 3 per cent to be at Dh3.2 billion. Total assets stood at Dh31 billion as at March 31.

Emaar Development shares closed 1.6 per cent lower at Dh3.70. The Dubai Financial Market general index closed 1.12 per cent lower at 2,583.74.

Meanwhile, contrary to market expectations, Emaar Development was not dropped from the MSCI emerging market index in its review on May 13.

“The decision to keep Emaar Malls and Emaar Development in the Standard index, where the latter should even see $23 million of passive inflows on the back of an upward FIF adjustment,” Arqaam Capital said in a note.

(c) Al Nisr Publishing LLC 2019. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

Stocks mentioned in the article
ChangeLast1st jan.
EMAAR DEVELOPMENT PJSC -0.53% 3.75 End-of-day quote.-14.51%
EMAAR MALLS PJSC 1.08% 1.87 End-of-day quote.3.35%
EMAAR PROPERTIES PJSC -2.71% 4.3 End-of-day quote.7.02%
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Financials (AED)
Sales 2019 24 844 M
EBIT 2019 8 587 M
Net income 2019 6 481 M
Debt 2019 4 255 M
Yield 2019 3,56%
P/E ratio 2019 4,89
P/E ratio 2020 4,54
EV / Sales 2019 1,45x
EV / Sales 2020 1,39x
Capitalization 31 646 M
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Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 7,06  AED
Spread / Average Target 60%
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Managers
NameTitle
Amit Jain Group Chief Executive Officer
Mohammed bin Ali Rashed Al-Abbar Chairman
Ahmed Al-Falasi Executive Director-Group Operations
Avinash Pangarkar Group Chief Financial Officer
Ahmed bin Jamal bin Hassan Jawa Non-Executive Director
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