Damac saw a 25 percent fall in net profits in 2017. Aldar’s profits were down to AED2bn from AED2.8 in 2016. Union Properties is still trying to turn its fortunes around, losing AED2.3bn in 2017. DFM-listed retailer Marka reported massive drops in revenues and profits of 68 percent respectively.
In an exclusive piece for Arabian Business Suresh Vaidhyanathan, senior CFO and certified board director at Platinum Corporation, digs into these results and looks at what needs to change. But he also looks at the positive fundamentals in the UAE economy, led by the likes of Emaar, whose net profits grew eight percent in 2017.
In this edition of Inside AB, Lubna Hamdan and Shayan Shakeel take a look at the good and bad news to come out of those year-end results and try to forecast what the year ahead has in store for the UAE economy.
(Source: Arabianbusiness.com YouTube channel)