Dubai-based property developer Emaar Properties reports a rise in its net profits during the second quarter of 2017, Invest-Gate reports.
Net profits reached AED 1.45 bn in Q2 of 2017, up 14% from AED 1.27 bn in Q2 of 2016. Revenues also grew 2% year-on-year to AED 3.79 bn in Q2 of 2017, according to the developer’s press release.
In the first half of 2017, net profits rose 15% to AED 2.84 bn from AED 2.47 bn in the prior-year period. Revenues reached AED 7.86 bn in H1 of 2017, a rise of 8% from AED 7.26 bn in H1 of 2016.
Emaar is committed to pay cash dividends of AED 1.074 bn for H1 of 2017, equivalent to 15% of the share capital.