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ParkinUAE reports its operational and financial results for the Q3 and the nine-months period ended 30 September 2024. Image courtesy: Dubai Media Office
Dubai’s Parkin, which operates public parking spaces in the emirate, made a net profit of 104.7 million dirhams ($28.5 million), 5% higher year-on-year (YoY)
The net profit far exceeded analysts' mean estimate of AED 83.3 million, according to LSEG data.
Revenue jumped 25% YoY to AED 239.2 million on addition of new spaces and a 16% rise in the number of transactions.
(Writing by Brinda Darasha; editing by Seban Scaria)
