Dubai's Damac Properties Q3 profit slips 11.7 pct | Reuters

Dubai's Damac Properties Q3 profit slips 11.7 pct | Reuters:

"Dubai's DAMAC Properties reported a 11.7 percent fall in third-quarter net profit on Monday as revenue slipped.

The developer reported a net profit of 902.0 million dirhams ($245.6 million) for the three months ended Sept. 30, according to a statement to Dubai's bourse. This is down from 1.02 billion dirhams a year earlier.

EFG Hermes forecast the firm would make a quarterly net profit of 707.0 million dirhams."



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