February 14, 2017 / 11:18 AM / 9 months ago

Dubai's Emaar Properties Q4 2016 net profit up 56 pct

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)

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