Arabspring: Profit of Emaar Properties UAE grew during the third quarter of the year increased by 21% compared with the same period last year to reach 701 million dirhams.
The earnings came in line with analysts’ expectations.
But over the nine months since the beginning of the year, the Emaar profit rose 34% compared with a year ago, is currently up to 2.4 billion dirhams.
The growth in profits despite a drop in revenue of 16% to nearly 2 billion dirhams, the company has taken allocations worth AED 57 million related to the company’s property affiliate.
Translation: Nebras Aldasouqi