Dubai – Mubasher: Deyaar Development has recorded a 2.6% year-on-year decline in net profit during the first six months of 2018, recording AED 65.2 million.
Revenue also decreased to AED 314 million in H1-18, 0.7% down from the year-ago period, according to a company statement.
“The financial performance for the second quarter and first six months of the year is a reflection of the robust business model that we operate and is driven by our clear strategy for growth,” Deyaar’s CEO Saeed Al Qatami commented.
“We are confident about our ability to further expand Deyaar’s portfolio and continue to see positive results, cementing our status as a leader in the sector,” Al Qatami said.
In April, Deyaar Development’s profits jumped to AED 40 million ($10.89 million) in the first three months of the year, a rise of around 25% year-on-year from AED 32 million ($8.71 million).
