Aldar Properties Q4 net profit surges 81% on higher revenue and improving environment – The National

Aldar Properties Q4 net profit surges 81% on higher revenue and improving environment – The National

Net profit attributable to shareholders for the period ending December 31, climbed to Dh577 million, the company said in a filing to the Abu Dhabi Securities Exchange, where its shares trade.. Looking ahead, our unique portfolio of investment properties and valuable land bank will enable us to continue to deliver attractive returns to our shareholders.". Net profit for the full-year rose 7 per cent to Dh1.98bn as revenue climbed 14 per cent to Dh7.1bn.. The company's board recommended a cash dividend of Dh0.14 per share, 4 per cent higher than 2018 dividend.. The company has registered a 53 per cent increase in development sales, a 30 per cent increase in hospitality profit and an 80 per cent rise in profit from Aldar Education.. "We remain confident in our platform's ability to grow and deliver sustainable returns to our shareholders," Mr Al Dhiyebi said.. Aldar expects development sales of Dh4bn achieved in 2019 to continue this year, as the company expects to achieve strong sales in 2020.. There is a positive sentiment in the market," Mr Fewer said.. Aldar also expects its net operating income from asset management business to rise this year, climbing to Dh1.8bn in 2020 from Dh1.7bn last