Reuters: Financial Services and Real Estate: UAE'S Emaar Properties Q1 profit up 44 pct

Reuters: Financial Services and Real Estate Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UAE'S Emaar Properties Q1 profit up 44 pct Apr 28th 2012, 10:44 DUBAI, April 28 | Sat Apr 28, 2012 6:44am EDT DUBAI, April 28 (Reuters) - Dubai's Emaar Properties , builder of the world's tallest tower, reported a 44 percent rise in first-quarter net operating profit on Saturday on increased property sales in Dubai and strong revenue from shopping malls business. The United Arab Emirates' largest developer by market value made a net operating profit of 606 million UAE dirhams ($165 million), compared to 421 million dirhams during the same period last year, it said in an emailed statement. Analysts polled by Reuters on average forecast Emaar would make a quarterly profit of 496.75 million dirhams. Revenue for the quarter was 1.821 billion dirhams, the company said in the statement. (Writing by Rania El Gamal)

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