Dance to the rythm of the music
Aldar properties released its Q3 2017 results showing a 27.3% decrease, yoy, in its revenues to AED1,380m. On the other hand, direct cost decreased by 22% which resulted in a decrease in the gross margin to 42.5% (vs. 46.5% in Q3 2016). General and administrative expenses decreased by 8.6% to AED50m (3.7% of its revenue) in Q3 2017, compared to AED55m (3% of its revenue) in Q3 2016.The company reported AED601m net profit, 18.5% down from Q3 2016.
On the balance sheet side, gross debt remained at a steady level at AED5.5bn as of September 2017.
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