Published On: Mon, Jan 19th, 2015

First Dubai announces financial results for 2014

First Dubai announces financial results for 2014

First Dubai announces financial results for 2014

First Dubai, a subsidiary company of Al-Mazaya Holding, has announced its financial results for the 2014 ending fiscal year following the Board Meeting held on Thursday, January 15th, 2015.

The Board of Directors of First Dubai Real-Estate Development announced the company has recorded KD3.55 million net profit and 3.55 Fils earnings per share.

The financial statements of the Company for the 2014 ending fiscal year report First Dubai’s strong ability to maintain its operating revenues at KD5.36 million resulting from sales and lease processes, compared to KD5.30 million achieved in 2013. Furthermore, from the lease processes only revenues registered an outstanding jump by 30% of the total operating revenues, increasing to KD 1.97 million at the year ending in 2014, compared to KD 1.52 million earned in the year ending in 2013.

First Dubai’s financial statements reflect strong assets, amounting to KD99.28 million at the end of 2014, compared to KD72.61 million achieved in 2013 – rising by 37%. Similarly, the equity increased to KD61.16 million end of 2014, up from KD55.20 million at the end of 2013, representing 11% increase from last year.

Source : WAM News Agency for United Arab Emirates

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