Thursday , September 24 2020

DAE reports $672.6 million revenue in H1


Dubai Aerospace Enterprise (DAE) Ltd. reported its financial results for the six months ended June 30.
According to the consolidated financial statements, the DAE’s total revenue reached $672.6 million during the first half of 2020 and net income hit $121.7 million.
The company’s pre-tax profit margin reached 20% and pre-tax return on equity hit 8.9%. The available liquidity of the company also reached $2,818 million during the first six months of 2020.
Commenting on the financial results, Firoz Tarapore, Chief Executive Officer of DAE, said: “Our financial results for the first half of 2020 were characterised by excellent and abundant liquidity, strengthening balance sheet and lower reported profitability.”

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