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Al Khaleej Investments’ net income fell 64.4% y-o-y to AED 1.9 mn in 2023, according to the company’s earnings release (pdf). Revenues also declined 5.9% y-o-y to AED 16.9 mn.
Looking ahead: The firm aims to boost overall income by diversifying income sources, replacing assets, and finding a balance between financial portfolios and real estate development. Anticipated economic recovery and price improvements are also expected to have a positive impact, along with ongoing economic reforms, leading to strengthened performance in the sector, the company said..
About Al Khaleej Investments: The ADX-listed company works primarily in the real estate sector, with its primary operations including “real estate enterprise investment, development, institution and management,” as well as other related services.
Ras Al Khaimah Co. For White Cement and Construction Materials’s bottom line fell 2.6% y-o-y to 20.5 mn in 2023, according to the company’s financial statements (pdf). The company also reported AED 255.9 mn in sales in 2023, up 3% y-o-y.
