Property News · February 15, 2016

Abu Dhabi's Aldar Properties Q4 profit rises 9.1 per cent



Abu Dhabi’s Aldar Properties reported on Monday a 9.1 per cent rise in fourth-quarter net attributable profit, according to Reuters calculations.The builder of Abu Dhabi’s Formula One circuit made a profit attributable to equity holders of Dh760 million in the three months to December 31, Reuters calculated based on Aldar’s annual financial statement in lieu of a quarterly breakdown.This compares with a profit of Dh696.3m in the corresponding period of 2014.
An analyst at SICO Bahrain had forecast Aldar would make a quarterly attributable profit of Dh512.7m.The company’s 2015 net profit was Dh2.54 billion, it said in a bourse statement, up from Dh2.24bn in 2014.Aldar’s board also proposed paying a dividend of 0.1 dirhams per share for 2015, according to the statement, up from 0.09 dirhams per share for the previous year.”Our business remains underpinned by a healthy balance sheet, stable operating environment, and strong fundamentals,” said chief executive Mohamed Al Mubarak. “Consistency in delivering growth from a high quality portfolio of assets and a strong pipeline of developments gives me great confidence in Aldar’s future.”
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Source : thenational.ae
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