The Dubai-based developer, in which the government has an
31.2 percent stake, posted a net profit of 701 million dirhams
($206.38 million) in the three months to Sept. 30, it said in a
statement.

That compares with a profit of 581 million dirhams in the
year-earlier period.

SICO Bahrain had forecast Emaar’s quarterly profit would be
762.4 million dirhams.

Revenue for the quarter was 1.98 billion dirhams, down from
2.35 billion dirhams a year ago.

Emaar’s third-quarter operating profit was 758 million
dinars, but its net profit was lower due to the company taking
an impairment of 57 million dirhams relating to mortgage
affiliate Amlak .
($1 = 3.6729 United Arab Emirates dirhams)

(Reporting by Matt Smith; Editing by Olzhas Auyezov)
((matt.smith1@thomsonreuters.com; 00971506354039; Reuters
Messaging: matt.smith1.thomsonreuters.com@reuters.net))

Keywords: EMAAR PROPERTIES RESULTS

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