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DUBAI / WAM
Emaar Malls recorded a net profit of AED548 million ($149 million) during the first quarter of 2018, similar to the net profit of AED539 million ($147 million) in Q1 2017. Revenue for first three months of 2018 was AED1.038 billion ($283 million), 24 percent higher than Q1 2017 revenue of AED836 million ($228 million), primarily due to the consolidation of Namshi revenue in 2018. Highlighting its focus on value creation for shareholders, at its third annual general meeting, Emaar Malls approved a cash dividend of AED1.301 billion ($354 million), equivalent to 10 percent of share capital, for third consecutive year.