DUBAI: Dubai’s Emaar Properties reported a 14 percent rise in fourth-quarter net profit on Sunday.

The developer made a net profit of AED861 million in the three months to Dec. 31, it said in a statement.

That compares with a profit of AED756 million in the same period a year earlier.

Quarterly revenue was AED2.85 billion, up 3 percent year on year, although costs rose 6 percent to AED1.32 billion.

The company’s annual profit last year was AED3.29 billion, up from AED2.57 billion in 2013.