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FINANCIAL NEWS
Dubai-DAMAC Properties posts fall in profits for second quarter in row
14 Aug 2017
(MENAFN) DAMAC Properties, the owner and operator of the only Trump-branded golf club in the Mideast, posted a decline in profits for the second consecutive quarter.
Furthermore, the developer made USD191.9mn in total comprehensive income for the April-June period, compared with income of 886.8mn dirhams in 2016.
Additionally, the developer hosted U.S. President Trump’s eldest sons Donald Trump Jr. and Eric Trump in Feb for the opening of the Trump Intl Gulf Club Dubai.
The firm’s second quarter revenue was 1.57bn dirhams, down from 1.75bn dirhams in the same period of 2016.
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