Sorouh Real Estate (SOROUH) 2008 Q2 financial report

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2008 Q2 result list | SOROUH 2008 Q2 results - forum topic | Sorouh Real Estate - details & pdf financial statements

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AED USD EUR GBP AUD BHD EGP JOD KWD OMR QAR SAR   Precision: 1 2 3
SOROUH (listed on ADSM)   Auditor:   Deloitte and Touche
SOROUH accounts in UAE dirhams    
Date of results and share price AED 9.47 on 24 Jul 2008    
Current share price AED 2.83 on 15 Apr 2009    
Chairman Saeed Eid Al Ghafli
CEO Mounir Haidar
Balance Sheet (AED) 31 Dec 2007 30 Jun 2008   %Δ   ? notes
Total Assets 7,220,667,000 11,039,117,000 53%
Total Liabilities (2,757,671,000) (5,860,712,000) 113% Includes minority interests
Shareholders Equity 4,462,996,000 5,178,405,000 16% Excludes minority interests
Income Statement (AED) 2007 Q2  2008 Q2       
Revenue (Sales) 801,146,000 1,069,861,000 34%
Cost of Revenues (COGS) (343,481,000) (293,662,000) -15%
Gross Profit 457,665,000 776,199,000 70%
Other Income 63,516,000 85,887,000 35%    
Other Expenses (78,270,000) (245,517,000) 214%    
Net Profit 442,911,000 616,569,000 39%  
Minority Interests 0 70,528,000      
Net Profit due to shareholders 442,911,000 687,097,000 55%
Earnings Per Share stated (annualized) 0.18 (0.72) 0.27 (1.08) 50%  
Ratio Calculations As on 24 Jul 2008      
Number of shares outstanding   2,500,000,000    
EPS calculated (annualized) 0.18 (0.71) 0.27 (1.10) 55%  
Price to Earnings ratio (PE)* 13.4 8.6   Calculated EPS used
Price to Book Value (PBV) 5.3 4.6 -14%  
Return on Assets (ROA)* 24.5% 24.9% 1%
Return on Equity (ROE)* 39.7% 53.1% 34%
Return on Sales (ROS) or Profit Margin 55.3% 64.2% 16%
*Based on annualized profits          
Comments about Sorouh Real Estate Q2 2008 results

27 July 2008 (am): Complete financial statements released with some significant differences.

Net Profit due to Shareholders is greater than the figure of AED 615.5m originally calculated, due to the effect of minority interests. Total Assets increased to AED 11.04 bn and Shareholder's Equity to AED 5.18 bn (08Q1 figures of AED 8.085 bn and AED 4.49 bn were used for ROE and PBV calculations).

24 July 2008 (pm): Limited information from a Reuters report. No press release or financial statements on ADX website. Data for 2007 H1 from previous financial statements. Net Profit calculated from 2008 H1 and Q1 data as Q2 figure was not supplied by Sorouh.

Balance Sheet figures not supplied by Sorouh so information used from 2008 Q1 to give an idea of PBV and ROE.

Have your say in the SOROUH 2008 Q2 results forum topic, includes directors reports and news, if available.

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This page last updated 20-Jan-2009. Company information last updated 22 Oct 2008. E & OE.