Dubai's DAMAC Properties third-quarter profit down 20% | ZAWYA MENA Edition

Dubai's DAMAC Properties third-quarter profit down 20% | ZAWYA MENA Edition:

"Dubai's DAMAC Properties , the owner and operator of the only Trump-branded golf club in the Middle East, reported a third consecutive profit decline on Wednesday as costs of sales rose. The developer's profit fell 20 percent in the July-September period to 719.34 million dirhams ($195.86 million) compared with the same quarter a year prior when it reported a 902 million dirham profit. Revenue rose by 31 percent to 2.29 billion dirhams, and the cost of sales increased to 1.3 billion dirhams, from 788.6 billion in the year-earlier period. "



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