Emaar Properties, Dubai's largest property developer, reported an 8 per cent drop in first-quarter net profit on Tuesday, missing analysts' forecasts, as sales and administration expenses rose sharply.
The builder of the world's tallest tower, the Burj Khalifa, reported a profit of Dh556 million in the quarter ended March 31, compared to Dh606m in the prior-year period.
A Reuters poll of six analysts had predicted an average net profit of Dh600m.
Revenue for the first quarter was Dh2.11bn, up 16 percent from Dh1.82bn in the prior-year period.
Selling, marketing, general and administrative expenses were up 26 per cent in the quarter to Dh531m.
* Reuters
Cricket World Cup League 2
UAE squad
Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind
Fixtures
Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Company%20Profile
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Disclaimer
Director: Alfonso Cuaron
Stars: Cate Blanchett, Kevin Kline, Lesley Manville
Rating: 4/5
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