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Thursday, 11 August 2011

gulfnews : Deyaar back in black as profits reach Dh44.4m

Deyaar, Dubai's second biggest developer, announced a net profit of Dh44.4 million for the first six months ending June 30.

The results come as a positive boost after the loss of Dh243 million during the same period last year, which the company put it to the writedown on the value of select assets and investments.

Gross revenues for the period grew 48 per cent to Dh480 million compared with Dh325 million in the same period last year.