PHOTO
DUBAI - Dubai-based Emaar Properties said on Sunday it posted a net profit of $1.55 billion in 2017, about 8 percent higher than a year earlier.
The developer of the more than 160-storey Burj Khalifa, the world's tallest tower, had made $1.43 billion in net profit in 2016.
The latest statement came after Emaar chairman Mohamed Alabbar said on Wednesday the firm had made $1.8 billion in profit and close to $5 billion in sales in 2017.
The company clarified on Saturday that the figure was before depreciation.
(Reporting by Saeed Azhar; editing by Davide Barbuscia) ((Saeed.Azhar@thomsonreuters.com; +971 44536787; Reuters Messaging: saeed.azhar.reuters.com@reuters.net))
The developer of the more than 160-storey Burj Khalifa, the world's tallest tower, had made $1.43 billion in net profit in 2016.
The latest statement came after Emaar chairman Mohamed Alabbar said on Wednesday the firm had made $1.8 billion in profit and close to $5 billion in sales in 2017.
The company clarified on Saturday that the figure was before depreciation.
(Reporting by Saeed Azhar; editing by Davide Barbuscia) ((Saeed.Azhar@thomsonreuters.com; +971 44536787; Reuters Messaging: saeed.azhar.reuters.com@reuters.net))
