Abu Dhabi’s Aldar Properties Q3 Net Profit Up 41%, Beats Estimates

Aldar made a profit of Dhs584 million ($159 million) in the third quarter of 2014, compared with Dhs413 million in the corresponding period in 2013.



Abu Dhabi’s largest property developer Aldar Properties reported a 41 per cent rise in third-quarter net profit on Thursday, beating analyst forecasts.

The builder of Abu Dhabi’s Formula One race circuit made a profit of Dhs584 million ($159 million) in the three months ending Sept 30, compared with Dhs413 million in the corresponding period in 2013, it said in a statement on the bourse.

SICO Bahrain and HSBC had expected Aldar to make quarterly profit of Dhs382.6 million and Dhs441.9 million respectively.

Revenue for the quarter was Dhs1.37 billion, up 17 per cent, the statement added.

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