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FINANCIAL NEWS
DAMAC Dubai net profit for Q2 falls by 37.4pct
14 Aug 2016
(MENAFN) Dubai-DAMAC Properties registered a 37.4 percent drop in the second quarter net profit of this year.
Furthermore, the developer posted a net profit of USD241.4mn for the cited period, down from 1.42bn dirhams a year ago.
Accordingly, it was also forecasted that the company would make quarterly revenue of 771mn dirhams.
DAMAC net profit for the first half of the recent year touched 1.94bn dirhams, decline of 27 percent from the same period of 2015.
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