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Tuff-Stuff

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Tuff-Stuff

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Sunday, 05/01/2016 6:32:24 PM

Sunday, May 01, 2016 6:32:24 PM

Post# of 648882
Dubai developer's Q1 net profit jumps 18%

Published: May 1, 2016 4:37 p.m. ET

DUBAI -- Dubai developer Emaar Properties PJSC reported an 18% rise in first-quarter net profit on Sunday, buoyed by sales in the Dubai market as it shrugged off a slowdown in the emirate's real-estate sector.

Net profit in the three month-period that ended March 31 rose to $328 million from $279 million during the same period last year. First-quarter revenue climbed 17% to $961 million.

Emaar, developer of the Burj Khalifa in Dubai, the world's tallest building, attributed the profit increase to a jump in sales in its home market Dubai, which generates a large percentage of its revenue

http://www.marketwatch.com/story/dubai-developers-q1-net-profit-jumps-18-2016-05-01

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