Dubai-Mubasher: Deyaar Development Company reported a 7.6% decrease in its quarterly profits in 2016, according to a bourse statement.
Profits stood at AED 51.03 million ($13.89 million) in the first quarter of 2016, compared to AED 55.2 million ($15.03 million) in the same quarter of 2015.
Revenues grew 66.3% to AED 60.2 million ($16.39 million) in Q1-16, compared to AED 36.2 million ($9.85 million) in Q1-15.
The real estate developer’s stock rose 1.8% to AED 0.68 by 10:10am UAE time, with turnover of AED 3.7 milllion generated from the exchange of 5.4 million shares.
