Dubai's Emaar Properties Q1 net profit rises 55 pct

DUBAI, April 22 Tue Apr 22, 2014 7:13am EDT

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DUBAI, April 22 (Reuters) - Dubai's Emaar Properties reported a 55 percent rise in first-quarter net profit on Tuesday that was slightly below analyst estimates.

The builder of the world's tallest tower, the Burj Khalifa, reported a profit of 863 million dirhams ($234.96 million) in the three months to March 31, it said in a statement. This compares with a profit of 556 million dirhams in the prior year period.

Analysts polled by Reuters on average forecast Emaar would make a quarterly profit of 873 million dirhams. ($1 = 3.6730 UAE Dirhams) (Reporting by Matt Smith; Editing by David French)

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