DUBAI Aug 4 Dubai's largest developer Emaar
Properties reported a 28.6 percent rise in
second-quarter net profit on Monday, beating analyst forecasts,
but revenue from property sales in the emirate dropped.
The builder of the world's tallest tower Burj Khalifa made a
net profit of 868 million dirhams ($236.3 million) in the three
months ending June 30, compared to 675 million dirhams in the
corresponding period in 2013, it said in a statement on Dubai's
The earnings beat analyst estimates who predicted an average
net profit of 839.8 million dirhams for the period.
The company sold properties worth 3.12 billion dirhams in
the quarter, down from 3.29 billion dirhams it made in the same
quarter last year, Reuters calculated based on half-year
($1 = 3.6730 United Arab Emirates Dirhams)
(Reporting by Praveen Menon; Editing by David French)