Union Properties turns to profitability in Q3-20

Union Properties turns to profitability in Q3-20

Dubai – Mubasher: Union Properties recorded net profits of AED 509.2 million net profits during the third quarter (Q3) of 2020, against net losses of AED 81.56 million in the corresponding quarter of 2019.

The company's revenues from contracts with customers decreased to AED 90.52 million in the July-September period in 2020 from AED 106.21 million in the year-ago period.

The basic and diluted earnings per share (EPS) stood at AED 0.119 in Q3-20, versus AED 0.019 in the same quarter of the earlier year.

In the first nine months of 2020, the company's net profits reached AED 348.78 million, compared to net losses of AED 163.88 million in the same period of 2019.

Meanwhile, the company