Dubai's Deyaar Development reported a 17.8 per cent fall in second-quarter net profit on Wednesday.

The company made a profit of Dh60.3 million ($16.4 million) in the three months to June 30, it said in an earnings' statement. This compares with a profit of Dh73.4 million in the corresponding period of 2015.

Deyaar made a net profit of 111.4 million dirhams in the first half of the year, it said in the statement, down from Dh131.8 million in the corresponding period of 2015.-Reuters