Emaar Properties Q4 net profit dips on higher costs

Dubai-based developer, Emaar Properties reported a 16 percent slide in Q4 2017 net profit as the costs of revenue weighted on the company's performance.

The company's revenue however rose 21 percent to AED 5.36 billion in the quarter. But a 32 percent rise in cost of revenue and 14 percent rise in selling, marketing and general expenses had an adverse impact on the bottom line.

Dubai's largest listed real estate developer said it posted a net operating profit of AED 5.704 billion ($1.553 billion) in 2017, 16 percent higher than a year earlier.

The company posted total sales of AED 18.03 billion (US$ 4.91 billion) in 2017, an increase of 25 percent over 2016.