Monday 1 August 2011

Dubai's Damas back in black after previous AED2bn loss - ArabianBusiness.com

Troubled jewellery firm Damas International Limited on Sunday announced a net profit of AED53.3 million for the financial year to the end of March.

Damas had reported a loss of AED2 billion in the previous financial year, the company said in a statement.

'Combined efforts have enabled Damas to achieve these robust results and strengthen its stature as the regional jewellery trendsetter and market leader,' said Ibrahim Belselah, chairman of Damas.
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