Abu Dhabi’s Aldar profit rises

ABU DHABI: Abu Dhabi developer Aldar Properties reported a 2 percent rise in second-quarter profit on Thursday, though the company did not provide outlook for the rest of the year due to the  coronavirus disease pandemic.

The state-linked builder of Abu Dhabi’s Formula One circuit made 484 million dirhams ($132 million) in the three months to June 30, compared with 476 million dirhams a year earlier.

Revenue increased by 21 percent to 2 billion dirhams, driven by state projects and inventory sales, it said in a statement.