Dubai – Mubasher: Damac Properties’ net profit for the second quarter of 2016 fell 37.6% year-over-year to AED 886.83 million ($241.44 million) from AED 1.42 billion ($386.59 million), according to a bourse filing.
During the first half, the company registered AED 1.94 billion profits, lower 26.8% from AED 2.65 billion for the year-ago period.
H1 operating profit also went down 27.1% year-on-year to AED 1.94 million from AED 2.66 million.
In the first quarter, the company earned AED 1.05 billion, compared to AED 1.23 billion.
