Emaar registers 130% hike in Q4 profit

12 Feb 2008

(MENAFN) The Dubai-based developer Emaar Properties posted a 130 percent hike in fourth-quarter profit, thanks to earnings from major deliveries and high returns from its malls and hotels, in addition to savings from cost management and resource optimization initiatives, Khaleej Times reported.

The builder of the world’s tallest skyscraper, said that its fourth-quarter profit jumped 94 percent year-on-year to $594 million.

The full-year revenue was $1.67 billion, down 21 percent from a but net profit rose 98 per cent to $65 million. Emaar had posted a loss of $483 million in the fourth quarter of 2008.

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