Dubai's Emaar Properties, builder of the world's tallest tower, reported an eight per cent rise in second-quarter net profit on Sunday.

The developer, in which Dubai's government owns a minority stake, made a net profit of Dh1.27 billion ($345.8 million) in the three months to June 30, it said in a statement.

That compares with a profit of Dh1.18 billion ($321.2 million) in the year-earlier period.

SICO Bahrain forecast Emaar would make a quarterly profit of Dh1.06 billion ($288.5 million).

Emaar's quarterly revenue was Dh3.73 billion ($1 billion), up from Dh3.50 billion ($952.7 million) a year earlier, the statement added. – Reuters