FINANCIAL NEWS

DAMAC net profit hits USD253m in Q2

13 Aug 2014

(MENAFN) Dubai Luxury Property Developer (DAMAC) net profit increased 18 percent in the April-June period, Arab News reported.

DAMAC”s profit reached USD253 million in the second quarter of this year, while revenue signaled another increase, hitting USD556 million a rise of 37 percent.

The January-June period also showed an increase in their booked sales, rising 75 percent to USD1.68 billion.

Meanwhile, Emaar Properties, DAMAC largest rival, posted a small decrease in their property sales during the second quarter of 2014.

More News