Property News · February 14, 2017

Emaar Properties says fourth-quarter net profit up 56%


Dubai’s Emaar Properties reported a 56 per cent rise in fourth-quarter net profit on Tuesday.The developer, in which the Dubai Government owns a min­ority stake, made a net profit of Dh1.61 billion in the three months to December 31.That compares with a profit of Dh1.03bn a year-earlier.Sico Bahrain and EFG-Hermes forecast that Emaar would make a quarterly profit of Dh1.32bn and Dh1.64bn, respectively.__________________________________Earnings reports■ ADIB fourth-quarter profit lower on bad debt provisioning■ Aldar fourth-quarter profit dips 1 per cent amid ‘softer operating market’■ Quarterly profit slips 9% for Amanat Holdings■ Arkan Building Materials annual profit declines 25%■ Damac Properties’ fourth-quarter net profit rises 1.3%■ Drake & Scull’s 2016 net loss narrows to Dh787 million■ Du fails to offset royalty payment rise as profit falls■ Etisalat profit edges up on growing UAE revenue■ Manazel Real Estate profit rises 16% in second half■ Marka will continue with cost-cutting after second straight annual loss■ Union National Bank’s fourth-quarter profit rises 29%, missing forecasts__________________________________* Reutersbusiness@thenational.aeFollow The National’s Business section on Twitter

Source : thenational.ae
Read more…Emaar Properties says fourth-quarter net profit up 56%

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