Abu Dhabi – Mubasher: Manazel Real Estate on Monday reported a year-on-year decline in net profit in the first six months of 2016 by 30.6%.
The Abu Dhabi-listed property company announced a net profit of AED 31.32 million ($8.5 million) in H1-16, down from AED 44.97 million ($12.24 million) in the year-ago period.
First half revenues grew 1.8% this year to AED 267.47 million from AED 262.79 million in the same period last year.
Manazel’s stock ended stable on Monday at AED 0.53 after 6.62 million shares were traded at turnover of AED 3.51 million.
