Union Properties posts interim consolidated financial results for H1

Dubai – Mubasher: Union Properties, listed on the Dubai Financial Market (DFM), has reported its interim consolidated financial results for the first half of 2019.

Loss for H1-19 attributable to shareholders amounted to AED 82.32 million, against a profit of AED 207.42 million in H1-18, according to the company’s financial results statement.

Loss per share (EPS) stood at AED 0.0192 in the six-month period ended 30 June 2019, versus AED 0.0484 in the prior-year period.

Revenue from contracts with consumers fell to AED 207.60 million in H1-19, versus AED 239.66 million in the year-ago period.

In the second quarter of 2019, the company has incurred a loss of AED 84.071 million, against achieving a profit of AED 24.70 million.

Total assets amounted to AED 6.17 billion at the end of June 2019, versus AED 6.27 billion as of 31 December 2018.

In May, Union Properties reported its unaudited financial results for Q1-19, with a profit for attributable to shareholders of AED 1.75 million, compared to AED 182.7 million in Q1-18.

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