Aldar profit climbs as property backlog converts
Aldar Properties recorded an 18% rise in first-half net profit after tax to AED 4.9 billion, as the Abu Dhabi developer converted its substantial project backlog into revenue and expanded income from investment properties. Revenue increased 8% year on year to AED 16.8 billion during the six months ended June, while gross profit rose 17% to AED 6.2 billion. Earnings before interest, tax, depreciation and amortisation advanced […]