We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Tue 8 Nov 2016 09:19 AM

Font Size

- Aa +

Abu Dhabi's Aldar Properties Q3 net profit gains 17.9%

UAE capital's largest developer beats analyst estimates, while revenues rise 61%

Abu Dhabi's Aldar Properties Q3 net profit gains 17.9%
Aldar Properties Headquarters in Abu Dhabi.

Abu Dhabi's Aldar Properties reported a 17.9 percent increase in third-quarter attributable net profit on Tuesday, according to a bourse filing.

Net profit attributable to the owners was 747.8 million dirhams ($203.6 million) for the three months to Sept. 30, compared with a profit of 634.3 million dirhams in the year-ago period.

Total net profit for the period rose 16 percent to 737.1 million dirhams, from 638.2 million dirhams in the corresponding three months of last year.

SICO Bahrain forecast Aldar would make a quarterly profit of 480.26 million dirhams, and EFG Hermes expected earnings of 682.06 million dirhams.

Arabian Business: why we're going behind a paywall

For all the latest real estate news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.