Aldar earnings at Dh906.8m

Aldar earnings at Dh906.8m. (EB FILE)

Aldar Properties has reported Dh906.8 million as earnings before interest, depreciation and amortisation for the year ended December 31, 2009 against Dh3,371.1m for the same period last year.

Gross revenue was Dh1,979.3m against Dh4,978.3m for the previous year, said a statement. The decrease in revenue was due to lower sale of land plots during 2009.

Basic earnings per share for the year dropped to Dh0.39 from Dh1.39. Although 2009 was a challenging year economically, Aldar was able to increase net asset value by 3.9 per cent to Dh16,650.5m against Dh16,032.5m.

Developments under construction were Dh17,923.6m at year end compared to Dh22,934.3m in 2008. The decrease is due to number of projects completed during the year. “2010 will see a focus on continued delivery. Highlights in the coming year will include the opening of the Souk at Central Market; the opening of the Yas Links Golf course and the launch of Ferrari World Abu Dhabi,” Ahmed Ali Al Sayegh, Aldar Chairman said.

 

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