Just a day after dealing with some angry shareholders at its Annual General Meeting, Emaar Properties has announced its first quarter results. A first glance shows a 74 per cent decline in first-quarter profits to Dh237m. Last quarter, the company reported a loss because of its massive write-downs relating to John Laing Homes (the company is now in bankruptcy proceedings).
Total revenue for the quarter fell to Dh1.55bn from Dh2.52bn in the same period last year, a decline of 39 per cent.
Read the full release here.