Sparks commentary - Dar Global

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Sparks - Dar Global

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Dar Global (LSE: DAR) – H1 results highlight corporate progress
Published by Andy Murphy

Dar Global has had a promising start to year with several corporate developments. H1 revenue was materially lower than the comparative period due to the timing of revenue recognition policies. This headline hides the fact that demand has remained high and that cumulative sales, to date, stand at c US$1.3bn, up from US$0.8bn at the same point last year. Also portfolio GDV now stands at US$6.8bn over 14 active projects, up from US$5.9bn over 12 projects at the end of December. Dar Global reiterated that it expects to recognise revenue of US$700m in total over FY24 and FY25, with FY24 revenue in the range $210m to $250m.

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