Nice play, but it is only the first quarter
Aldar Properties has released its Q1 2017 figures showing a 28% increase, yoy, in its revenue to AED1577m. On the other hand, the company’s direct costs increased by only 17% yoy, resulted in a 43% yoy increase in the company’s gross profit, compared to a year earlier, to AED752m (48% gross margin vs. 43% in Q1 2016).The company continued to carefully manage its costs with a 23% yoy decrease in G&AE to AED17m, and a 7% yoy decrease in Staff costs to AED55m.
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