Dubai – Mubasher: Depa Ltd. Swung from losses into profits during the first nine months of 2016, according to a bourse filing on Monday.

The company registered AED 29 million ($7.89 million) earnings in the nine-month period against AED 7 million ($1.91 million) for the year-ago period.

Revenues declined 0.17% year-on-year to AED 1.186 billion from AED 1.188 billion, the statement revealed.

Gross profits increased to AED 195 million during the first nine months from AED 118 million for the prior-year period.

Projects under construction are valued at AED 2.08 billion, lower 10% year-over-year from AED 2.3 billion.

In the first six months, the company recorded AED 16 million profits, higher 6.66% year-on-year from AED 15 million.