UAE's Aldar Properties Q4 profit up 9.1%

Aldar’s 2015 net profit was $692m), up from $610m

Abu Dhabi's Aldar Properties reported on Monday a 9.1 percent rise in fourth-quarter net attributable profit, according to Reuters calculations.

The state-linked builder of Abu Dhabi's Formula One circuit made a profit attributable to equity holders of 760 million dirhams ($206.9 million) in the three months to Dec. 31, Reuters calculated based on Aldar's annual financial statement in lieu of a quarterly breakdown.

This compares with a profit of 696.3 million dirhams in the corresponding period of 2014.

An analyst at SICO Bahrain had forecast Aldar would make a quarterly attributable profit of 512.7 million dirhams.

The company's 2015 net profit was 2.54 billion dirhams ($692m), it said in a bourse statement, up from 2.24 billion dirhams ($610m) 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.

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