Deyaar Registers 68% Rise In Q114 Net Profit


News: UAE-based Deyaar Development registered a 68% year-on-year (y-o-y) rise in net profits to AED52.1mn (USD14.2mn) in Q114, up from AED19.4mn (USD5.3mn) in Q113. The company's revenues also saw a 55% y-o-y rise in Q114. Deyaar posted a growth in gross profits to AED108.9mn (USD29.6mn) in Q114, compared with AED48.8mn (USD13.3mn) in Q113. 'The first quarter results are a reflection of Deyaar's aspirations to achieving sustained growth throughout the year. The real estate market has witnessed an upswing that has buoyed our growth and we believe this resilience will continue not just in 2014, but well into the future,' CEO Saeed Al Qatami said (constructionweekonline.com).

This article is tagged to:
Sector: Infrastructure
Geography: United Arab Emirates

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