Sorouh earns record profit of Dh615m

Abu Dhabi-based Sorouh Real Estate posted a record net profit in the second quarter on income from sale of land and leasing investment properties.

Net income rose almost 39 per cent to Dh615 million in the second quarter compared to the same period last year and beat three out of four analysts' forecasts. Revenues from land sales as well as rental income grew 57 per cent to Dh1.69 billion in the first half. Sorouh did not give a breakdown for the second-quarter.