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  • 03-08-15

    Dubai's Emaar Properties net profit up 16 percent in Q2

    (MENAFN) Dubai's Emaar Properties reported a 16 percent rise in second-quarter net profit on Sunday as other income increased and it received more money in income tax credits.

    Builder of the world's tallest tower made a net profit of USD321.3 million in the three months to June 30, up from USD277.7 million on the prior-year period, Emaar said in a statement.

    The developer reported second-quarter revenue of USD947.4 million, increasing from USD909.3 million a year earlier, while cost of revenue rose 11 percent to USD443.7 million.

    The firm's other income swung to a gain of USD39.2 million from a small loss a year ago and it also received income tax credits of USD24.5 million versus USD1.6 million in the second quarter of 2014.

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