Dubai’s Damac Properties Q2 net profit drops 37.4 per cent
Dubai’s DAMAC Properties reported a 37.4 percent fall in second-quarter net profit on Sunday.
The developer reported a net profit of 886.8 million dirhams ($241.4 million) for the three months to June 30, according to a statement to Dubai’s bourse. This was down from 1.42 billion dirhams a year earlier.
For the first half of the year, DAMAC’s net profit was 1.94 billion dirhams, down 27 percent from the same period of last year. ($1 = 3.6729 UAE dirham)