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Tuesday, 2 August 2016

UPDATE 1-Abu Dhabi's Aldar Properties Q2 net profit up 10 pct | Reuters

UPDATE 1-Abu Dhabi's Aldar Properties Q2 net profit up 10 pct | Reuters:

"Aldar Properties reported a 9.7 percent rise in second-quarter net profit on Tuesday, as the state-linked builder of Abu Dhabi's Formula One circuit shook off concerns about a softening market by posting higher revenue.

The net profit of 657.4 million dirhams ($179 million) in the three months to June 30, disclosed in a bourse filing, was the eighth successive quarter of rising earnings for the firm. It made 599.2 million dirhams in the year-earlier period.

SICO Bahrain forecast Aldar would make a quarterly profit of 384.1 million dirhams."



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