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UAE's Aldar Properties Q4 net profit flat
February 14, 2017 / 4:58 AM / 9 months ago

UAE's Aldar Properties Q4 net profit flat

DUBAI, Feb 14 (Reuters) - Aldar Properties, the state-linked builder of Abu Dhabi’s Formula One circuit, reported a 0.9 percent decline in fourth quarter net attributable profit on Tuesday, according to Reuters calculations.

Aldar made a net profit of 727.9 million dirhams ($198.2 million) in the three months to Dec. 31, Reuters calculated from financial statements in the absence of a quarterly breakdown. That compared with a profit of 734.6 million dirhams in the prior-year period.

Reuters initally calculated a net profit for the fourth quarter of 2016 of 745.5 million dirhams based on the company’s profit that was not net attributable.

SICO Bahrain forecast a quarterly profit of 496.0 million dirhams while EFG Hermes forecast a profit of 849.0 million dirhams.

Aldar’s board also proposed paying a dividend of 11 fils per share for 2016, according to the statement, up from 10 fils per share for the previous year.

$1 = 3.6720 UAE dirham Reporting By Tom Arnold, editing by Hadeel Al Sayegh

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