Emaar Third-Quarter Profit Falls 7%, Misses Estimates
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Emaar Properties PJSC, the builder of the world’s tallest tower in Dubai, reported a 7 percent drop in third-quarter profit, missing analysts’ estimates, on higher costs and writedowns.
Net income fell to 612 million dirhams ($167 million) from 665 million dirhams a year earlier, Emaar said in a statement today. The median estimate of four analysts was for a profit of 662 million dirhams, according to data compiled by Bloomberg.