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FINANCIAL NEWS
Dubai’s Union Properties reports USD21.8m profit in Q2
05 Aug 2013
(MENAFN) Dubai-based developer Union Properties Posted a 36 percent increase in quarterly earnings, driven by income from liabilities settlements with contractors, Reuters reported.
Union Properties said that it made a saving of USD21.77 million in the April-June period on account of liabilities settlements with contractors for certain projects.
The company said it made USD30.8 million net profit during the second quarter, up from USD2275 million a year earlier.
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