Emaar Properties, UAE's biggest developer by market value, posted a 45 percent drop in first-quarter net profit, missing analysts forecasts, as revenue dipped and losses from associate firms rose.
The builder of the world's tallest tower, Burj Khalifa, made a net profit of 421 million dirhams ($114.6 million), compared with a profit of 760 million dirhams in the same period a year ago, the company said in a statement to the bourse on Sunday.
Analysts polled by Reuters had expected the firm to post a quarterly profit of 647 million dirhams.
No comments:
Post a Comment