Abu Dhabi – Mubasher: Dubai-listed Deyaar Development on Tuesday said its net profits dropped considerably by 41% year-on-year in the first nine months of 2017.
Deyaar Development’s net profits reached AED 100 million ($27.23 million) in the period from January to September 2017, compared to AED 167 million ($45.47 million) in the comparative period of 2016, according to a company statement.
Revenues nearly doubled by 96% to AED 512 million in the first nine months of 2017 from AED 261 million in the year-ago period on the back of growth the sale of real estate units, Deyaar Development revealed.
The real estate firm had last reported a 42% drop in profits to AED 35.17 million in Q2-17 from AED 60.33 million in the year-ago period.
