ABU DHABI - Aldar Properties, the state-linked builder of Abu Dhabi's Formula One circuit, reported an 80 percent fall in fourth-quarter profit due to a one-time charge, its chief financial officer said on Thursday.
Aldar made a net profit attributable to owners of 141.0 million dirhams ($38.4 million) in the three months to Dec. 31, compared with 727.9 million dirhams a year earlier, CFO Greg Fewer said on a conference call.
Aldar booked a one-time charge of 495 million dirhams in the fourth quarter, he said.
SICO Bahrain forecast that Aldar would make a quarterly profit of 628.12 million dirhams.
Aldar's full-year profit attributable to owners was 2 billion dirhams, compared with 2.78 billion dirhams in 2016, he said.
The company has a capex outlay of 5.4 billion dirhams for the next two years and is also evaluating refinancing a $750 million sukuk due in 2018, he said.
(Reporting By Stanley Carvalho & Davide Barbuscia, Editing by Subhranshu Sahu) ((stanley.carvalho@thomsonreuters.com; + 9712 6444431; Reuters Messaging: stanley.carvalho.thomsonreuters.com@reuters.net))
