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Dubai developer Nakheel reports 22 pct rise in Q4 net profit

Net profit for full-year 2016 rose to 4.96 billion dirhams from 4.38 billion

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Dubai property developer Nakheel reported a 22 percent rise in fourth-quarter profit on Wednesday.

Profit rose to $260 million (955 million dirhams) for the three months to Dec. 31 from 781 million a year earlier, it said in a statement.

Net profit for full-year 2016 rose to 4.96 billion dirhams from 4.38 billion, it said.