Dubai developer Deyaar posts lower second-quarter profit

Dubai’s Deyaar Development reported a 30.1 per cent fall in second-quarter net profit on Wednesday, according to Reuters calculations.

The company made a profit of Dh60 million in the three months to June 30, Reuters calculated from financial statements in the absence of a quarterly breakdown.

This compares with a profit of Dh85.8m in the corresponding period of 2015.

Deyaar made a net profit of Dh111m in the first half of the year, it said in a statement which did not give a comparative figure. According to Reuters data, Deyaar made Dh116.6m in the corresponding period of 2015.

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