Emaar profits up by 21%, but misses analysts’ expectations | The National:
"Emaar Properties reported a 21 per cent rise in net profit for the third quarter as it completed the share-sale of its retail business.
But net income missed analyst expectations as the Dubai developer, which hived off Emaar Malls Group this month, recorded a second consecutive quarter of declines in revenue.
“Revenues are down because of a slowdown in property deliveries during the quarter,” said Taher Safieddine, assistant vice president of equity research at Shuaa Capital, a Dubai-based investment bank. “The third quarter was very slow in terms of deliveries, especially in Dubai.”"
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