Property News · February 14, 2017

Damac Properties' fourth-quarter net profit rises 1.3%


Damac Properties reported a 1.3 per cent rise in its fourth-quarter net profit on Tuesday.The developer reported a net profit of Dh854.6 million for the three months to December 31, Reuters calculated in the absence of a quarterly breakdown. This was up from Dh844m reported for the year-ago period.Full-year 2016 net profit was Dh3.69 billion, down from Dh4.51bn in 2015, the company said.The company said its shareholders had approved the distribution of a cash dividend of 25 fils dirhams per share for 2016. That compares with 15 fils per share for the previous year. * Reutersbusiness@thenational.aeFollow The National’s Business section on Twitter

Source : thenational.ae
Read more…Damac Properties’ fourth-quarter net profit rises 1.3%

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