Dubai – Mubasher: Damac Properties reported a 20.5% year-on-year decline in its profits during the second quarter of 2017, according to a bourse statement.
Profits reached AED 704.79 million ($191.8 million) in Q2-17, compared to AED 886.83 million ($241.4 million) in Q2-16.
In the first half of 2017, profits fell 18% to AED 1.59 billion from AED 1.94 billion in the prior-year period.
Operating profits reached AED 1.58 million in H1-17, down 18.5% from AED 1.94 million in H1-16.
