Abu Dhabi – Mubasher: Company profits declined” Buruj PLC, listed on the Abu Dhabi Stock Exchange, increased by 8% by the end of 2022, compared to 2021 profits.
The company said in a statement that its profits decreased to 5.11 billion dirhams, equivalent to 1.393 billion dollars, by the end of 2022, compared to profits of 5.57 billion dirhams, equivalent to 1.518 billion dollars, achieved during 2021.
The company pointed out that selling and distribution expenses increased by 46%, to reach $703 million, compared to $483 million in 2021, and financing costs increased to reach $119 million, compared to $6 million in 2021..
The company’s board of directors approved a proposal to distribute cash dividends to shareholders of $650 million for the second half of 2022.
The company affirmed its commitment to pay $975 million in dividends to shareholders following the public offering stage for the year 2022, and to pay at least $1.3 billion for the fiscal year 2023..
Company profits rose “Bruges” By 2 percent, by the end of the first half of 2022, compared to the first half of 2021.
Borouge indicated that its profits amounted to 844 million dollars at the end of the first half of 2022, compared to profits of 825 million dollars during the same period of 2021.
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