Emaar Malls logs $157mln profit in Q1

Earnings per share (EPS) remained unchanged

A view shows the Dubai Mall area, UAE, March 3, 2016.

A view shows the Dubai Mall area, UAE, March 3, 2016.

REUTERS/Ahmed Jadallah

Dubai – MubasherEmaar Malls, listed on the Dubai Financial Market (DFM), has reported a net profit of AED 577.63 million for the first quarter of 2019, compared to AED 543.2 million in Q1-18.

The company, which is a unit of Dubai's largest listed developer Emaar Properties, has recorded revenue of AED 1.074 billion in Q1-19, versus AED 1.037 billion in the year-ago period, according to a statement.

Earnings per share (EPS) remained unchanged at AED 0.04 in the three-month ended 31 March as compared to Q1-18, Emaar Malls said.

Operating profit increased to AED 615.404 million in Q1-19 from AED 598.26 million in the year-ago period.

Total assets amounted to AED 24.185 billion at the end of March, versus AED 24.131 billion in the same quarter of 2018.

In 2018, Emaar Malls posted a net profit of AED 2.230 billion, up 7% from AED 2.086 billion in 2017.

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