Reuters logo
Abu Dhabi's Aldar Properties forecasts lower 2017 sales
February 14, 2017 / 6:26 AM / 7 months ago

Abu Dhabi's Aldar Properties forecasts lower 2017 sales

ABU DHABI, Feb 14 (Reuters) - Aldar Properties, the state-linked builder of Abu Dhabi’s Formula One circuit, expects sales of 3 billion dirhams ($816.8 million) in 2017, down from 3.5 billion dirhams in 2016, Chief Financial Officer Greg Fewer said on Tuesday.

The company may also refinance its $750 million sukuk maturing in 2018, he said in an earnings call after the release of fourth-quarter results.

Aldar posted a net attributable profit of 727.9 million dirhams in the three months to Dec. 31, 2016, Reuters calculated from financial statements in the absence of a quarterly breakdown. That compared with a profit of 734.6 million dirhams in the prior-year period. ($1 = 3.6728 UAE dirham) (Reporting By Stanley Carvalho; Writing by Tom Arnold; Editing by Subhranshu Sahu)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below