Tuesday 27 October 2009

Aldar Properties Q3 profit plunges 43 pct

Abu Dhabi's Aldar Properties made a third-quarter net profit of 430 million dirhams ($117.1 million), down 43.4 percent from the previous quarter.

The emirate's largest developer by market capitalisation made a net profit of 759.50 million dirhams in the comparable quarter in 2008.

Aldar said on Tuesday it made a nine-month net profit of 1.57 billion dirhams down from 3.36 billion dirhams in the same period last year.

It did not give quarterly data which Reuters calculated based on previous statements.END

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