Good prospects
Aldar released its Q2 2017 results showing a 20% decrease, yoy, in its revenues to AED1,354m. On the other hand, the company’s direct costs decreased by 19%, which resulted in a decrease in the gross profit compared to the previous year, to AED542m (the gross margin remained stable at 40% compared to Q2 2016). General and administrative expenses decreased by 2.4% to AED56m (4.1% of its revenue) in Q2 2017, compared to AED57 (3.4% of its revenue) in Q2 2016.On the balance sheet side, the company recorded a 2.5% decrease in its debt compared to FY 2016 to AED2,734m.
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