Dubai: Union Properties presented its audited consolidated financial statements for the year ended 31 December 2013 on Wednesday.
The group income for the year reached Dh4.7 billion as against Dh1.89 billion in 2012 and net profit amounted to Dh1.58 billion in 2013 as against Dh175.8 million in the previous year.
The directors proposed a bonus share dividend equal to five per cent of the company’s paid up share capital. According to UAE Federal law no.8 of 1984, 10 per cent amounting to Dh158 million has been transferred to the Stautory Reserve.
