POST Online Media Lite Edition



 

Emaar Properties Q1 net profit increased 15 percent

Staff Writer |
Emaar Properties recorded a net profit of AED 1.384 billion ($377 million) in the first quarter (January to March) 2017, an increase of 15 percent over the same period last year at AED 1.205 billion ($328 million).

Article continues below






Total revenue for Q1 2017 was AED 4.072 billion ($1.109 billion), an increase of 15 percent over Q1 2016 revenue of AED 3.529 billion ($961 million).

Recurring revenues from the malls, hospitality, entertainment and leisure businesses of Emaar were AED 1.592 billion ($433 million) in Q1 2017 contributing 39 percent of the total Group revenue.

Emaar’s international operations recorded Q1 2017 revenue of AED 806 million ($219 million), an increase of 62 percent over Q1 2016 revenue of AED 499 million ($136 million), accounting for 20 percent of the total Group revenue.

At the Annual General Meeting of Emaar Properties, shareholders have approved to distribute a cash dividend of AED 1.074 billion ($292 million), equivalent to 15 percent of the share capital.


What to read next

Emaar Properties Q1 net profit increases 17% to $328 million
Emaar Properties H1 net profit increased 12%
Emaar Properties reports record net profit