Emaar Properties , UAE's largest developer by market value, reported a 69-percent plunge in second-quarter net profit on Tuesday, missing estimates, as it handed over fewer homes and wrote off its investments in Dubai Bank.
The builder of the world's tallest tower, Burj Khalifa, made a net profit of 250 million dirhams ($68.1 million) for the quarter ended June 30, compared with a profit of 801.9 million dirhams in the same period a year ago.
Analysts polled by Reuters on average expected the firm to post a quarterly net profit of 358.18 million dirhams.
No comments:
Post a Comment