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Emaar tells $1.8bn profit in 2017 was before depreciation

collected by :Victor Alphen

Company Information Systems foreseen to officially declare its 2017 earnings in coming days Emaar Properties’ 1.8 bn estimate of its profit in 2017 was before depreciation, a spokeswoman for the Corporation told on Saturday.
The spokeswoman was clarifying a statement on Wednesday with Emaar chairman Mohamed Alabbar, that told it made $1.8 bn in profit & lock to $5 bn in discounts in 2017.
The developer of the further than 160-storey Burj Khalifa, the world’s tallest tower, made $1.43 bn in 2016 & announced $3.92 bn in Dubai property sales.
“We’ve been growing about twenty to 25 % on an annual basis,” Alabbar told on Wednesday.
The Corporation Information Systems foreseen to officially declare its 2017 earnings in coming days.

Emaar tells $1.8bn profit in 2017 was before depreciation Emaar-Flag
Emaar

Dana Gas swings to internet profit in 2017 boosted with settlement with Kurdistan Regional Govt

DUBAI, Feb eleven (Reuters) – UAE energy maker Dana Gas swung to a internet profit of $83 mn in 2017 from a internet loss of $88 mn a year earlier after a $1 bn payment as fraction of a settlement with the Kurdistan Regional Gov (KRG).
The company’s revenues were too boosted with higher oil prices & higher produce in Egypt & Kurdistan, where the Abu Dhabi-listed maker has its major assets.
However, Dana posted a internet loss of $42 mn in the 4th quarter of final year, Reuters calculated in the absence of a quarterly breakdown, compared with a $7 mn profit in the same period a year earlier.
Dana, that has struggled to gather receivables from Kurdistan & Egypt over the past 4 years, gathered $466 mn from the KRG & $164 mn from Egypt final year.
Dana’s cash balance at the finish of 2017 amounted to $608 million, further than double the $302 mn it had at the finish of 2016.

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