Emaar Malls says it made profit of more than $102m in the three months to September 30
Dubai's Emaar Malls, a unit of Emaar Properties, reported a 17 percent rise in third-quarter net profit on Wednesday.
Emaar Malls made a net profit of AED376 million ($102.4 million) in the three months to September 30, the company said in a statement. That compares with a profit of AED321 million in the same period a year earlier.
Quarterly revenue was AED728 million, 12 percent higher than the same period a year ago.
EFG Hermes forecast the company to make a quarterly net profit of AED387.7 million.
Parent firm Emaar Properties owns about 85 percent of Emaar Malls, having floated the remainder last year. At the time, the AED5.8 billion share sale was the Gulf's largest since 2008.For all the latest retail 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.