Dubai's Emaar Malls H1 profit rises 8% to $300 mln

Emaar Malls, the shopping malls and retail business majority-owned by Emaar Properties, on Sunday said its first-half 2018 net profit rose 8 percent to $300 million from $278 million a year earlier.

Revenue jumped 29 percent to $573 million from $442 million, it added.

The company's Q2 net profit increased 15 percent year-on-year to $151 million from $131 million. Revenue surged 35 percent to $290 million from $215 million.

Earlier this year, Emaar Malls distributed a cash dividend of $354 million, equivalent to 10 per cent of share capital, to shareholders.

The company's assets - The Dubai Mall, Dubai Marina Mall, Souk Al Bahar, Gold & Diamond Park and community shopping centers - together received 67 million visitors in H1, up 3 percent from a year earlier.