Deyaar reports Dh85.8m second quarter profit

Deyaar Development, the Dubai headquartered real estate developer, reported on Monday a 37.5 per cent growth in consolidated net profit for the second quarter. The company made Dh85.8 million over the three months ending June 30, 2015, compared to the Dh62.4 million it made in the same period a year ago, according to an emailed statement from the developer.

“The first-half results reflect Deyaar’s commitment towards our various stakeholders. The positive numbers also indicate Deyaar’s success in achieving healthy results as an outcome of its contribution to the industry,” Saeed Al Qatami, Deyaar’s Chief Executive Officer, said in a statement.

The Dubai-bourse listed company made Dh141 million in the first six months of the year, up 23 per cent compared to the same period a year ago, according to its 2015 first and second quarter financial performance media statements. The company did not release its revenue performance for the second quarter in Monday’s statement.

Deyaar has a share capital of Dh5,78 billion and was established in 2002, according to the company.

Deyaar’s shares closed up 0.62 per cent to Dh0.82 on the Dubai Financial Market (DFM) on Monday.



Source: Staff Report,


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