One of the luxury projects of Damac.
Damac Properties Q1 profit slides 15pc
DUBAI, May 9, 2016
Dubai's Damac Properties reported a 15 per cent fall in first-quarter net profit on Monday as revenue dropped.
The luxury real estate developer recorded a net profit of Dh1.05 billion ($285.9 million) for the three months to March 31, according to a statement to Dubai's bourse. This was down from Dh1.23 billion ($334 million) a year earlier.
Damac's first-quarter revenue was Dh1.62 billion ($440 million) compared to Dh2.43 billion ($661 million) a year earlier.-Reuters