Abu Dhabi – Mubasher: Aldar Properties posted a 2.1% year-on-year fall in its net profits during the first quarter of 2017, according to a bourse statement.
Net profits reached AED 640.63 million ($174.38 million) in Q1-17, compared to AED 654.16 million ($178.07 million) in Q1-16.
Revenues rose 28.5% to AED 1.58 billion in Q1-17, compared to AED 1.23 billon in Q1-16.
Direct costs amounted to AED 824.89 million in Q1-17, up 19.5% to AED 690.35 million in Q1-16.
Net profits reached AED 2.75 billion by the end of 2016, up 7.4% from AED 2.56 billion by the end of 2015.
