Dubai – Mubasher: The financial statements of Emaar Properties showed a growth of 36% in profits during the third quarter of 2016 as compared to the same period a year ago.
Net earnings increased to AED 1.145 billion ($312 million) in Q3-16 from AED 843 million ($230 million) in Q3-15, according to a bourse filing to DFM issued Tuesday.
The company achieved revenues worth AED 3.846 billion ($1.047 billion) in Q3-16, 16% higher than AED 3.329 billion ($906 million) in Q3-15.
During the first nine months of 2016, profits stood at AED 3.620 billion ($986 million) as compared to AED 3.048 billion ($830 million) in the same period of 2015; a year-on-year rise of 19%.
Emaar’s revenue amounted to AED 11.103 billion ($3.023 billion) during the first nine months of 2016, 13% higher from AED 9.849 billion ($2.681 billion) in the same period in the prior year, the statement added.
Total sales grew 28% to AED 14.689 billion ($3.999 billion) from January to September this year, compared with AED 11.442 billion ($3.115 billion) in the same period a year ago.
