FINANCIAL NEWS

Dubai’s Damac Q3 profit falls by 11.7pct

07 Nov 2016

(MENAFN) Dubai’s DAMAC Properties recorded 11.7 percent decline in its Q3 net profit, as revenue slipped.

Accordingly, the developer posted revenue of USD245.6mn for the cited period, which is down from 1.02bn dirhams a year earlier.

The firm’s third-quarter revenue was 1.75bn dirhams, compared to 2.02bn dirhams a year earlier.

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