Dubai’s Emaar Malls Q4 Net Profit Rises 5%

Emaar Properties owns 84.6 per cent of EMG, having floated 15.4 per cent of its subsidiary last September.



Dubai’s Emaar Malls Group (EMG), a unit of Emaar Properties, reported a five per cent rise in fourth-quarter net profit on Wednesday.

EMG made a net profit of Dhs412 million ($112.2 million) in the three months to Dec. 31, compared with Dhs394 million in the year-earlier period.

Quarterly revenue was Dhs800 million, up from Dhs744 million a year earlier.

EMG made an annual profit of Dhs1.35 billion in 2014, against Dhs1.10 billion in 2013.

Emaar Properties owns 84.6 per cent of EMG, having floated 15.4 per cent of its subsidiary last September. At the time, the Dhs5.8 billion share sale was the Gulf’s largest since 2008.

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