May 15, 2018 / 5:26 AM / 2 months ago

UAE's Aldar Properties Q1 profit up 5 percent

ABU DHABI, May 15 (Reuters) - Aldar Properties , the largest developer in Abu Dhabi, on Tuesday reported a five percent rise in first quarter profit, beating estimates.

The state-linked builder of Abu Dhabi’s Formula One circuit, made a net profit attributable to owners of 669 million dirhams ($ 182.2 million) in the three months ending March 31, 2018, its financial results showed.

SICO Bahrain and EFG Hermes forecast that Aldar would make a net profit of 593.28 million dirhams and 602.53 million dirhams respectively.

Reporting By Stanley Carvalho, editing by Davide Barbuscia

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