Dubai – Mubasher: Al Ramz Corporation Investment and Development logged higher net profits at AED 39.67 million in 2023, compared to AED 32.49 million in 2022.
Earnings per share (EPS) increased to AED 0.07 last year from AED 0.06 in the January-December 2022 period, according to the preliminary financial results.
Net revenues hiked to AED 118.52 million in 2023 from AED 103.04 million a year earlier.
Total assets reached AED 1.23 billion as of 31 December 2023, an annual surge from AED 986.37 million.
Mohammad Al Mortada Al Dandashi, Managing Director of Al Ramz, commented: “This year, our focus was on generating sustainable revenues in the face of testing market dynamics.”
“Our strategic efforts have been geared towards enhancing our value proposition and diversifying our revenue streams, among other objectives,” Al Dandashi noted.
In the nine-month period that ended on 30 September 2023, Al Ramz generated AED 21.62 million in net profit, down year-on-year (YoY) from AED 28.64 million.
