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Deyaar boosts 2008 first-half net profit to by 266 per cent
Deyaar Development PJSC, whose former chairman has been incarcerated for alleged fraud, announced a net profit of Dh246.9 million for the second quarter of 2008 ending June 30.
- Staff Report
- Published: 18:07 July 20, 2008
Dubai:Deyaar Development PJSC, whose former chairman has been incarcerated for alleged fraud, announced a net profit of Dh246.9 million for the second quarter of 2008 ending June 30.
The net profit saw an increase of 184 per cent compared to Dh87 million in the second quarter of 2007. The figure was also up by 22 per cent from the Dh202 million in the first quarter of 2008.
The company's net profit in the first half of 2008 stood at Dh448.9 million, an increase of 266 per cent compared to Dh122.8 million in the first half of 2007.
Deyaar's revenues in the second quarter of 2008 reached Dh823 million, an increase of 79 per cent compared to Dh460 million in the first quarter of 2008, and up 235 per cent compared to Dh245 million in the second quarter of 2007.
The company's revenues in the first half of 2008 reached Dh1.283 billion; an increase of 218 per cent compared to Dh403 million in the first half of 2007.
At the end of the second quarter of 2008, Deyaar's total assets reached Dh 9.78 billion, an increase of 7 per cent compared to Dh9.15 billion at the end of the first quarter of 2008, and up 108 per cent compared to Dh4.69 billion at the end of the second quarter of 2007.
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