DUBAI, Feb 14 (Reuters) - Dubai’s Emaar Properties , builder of the world’s tallest tower, reported a 56 percent rise in fourth-quarter net profit on Tuesday.
The developer, in which Dubai’s government owns a minority stake, made a net profit of 1.61 billion dirhams ($438.4 million) in the three months to Dec. 31, it said in a statement.
That compares with a profit of 1.03 billion dirhams in the year-earlier period.
SICO Bahrain and EFG Hermes forecast Emaar would make a quarterly profit of 1.32 billion dirhams and 1.64 billion dirhams respectively. ($1 = 3.6723 UAE dirham) (Reporting by Tom Arnold; Editing by Adrian Croft)