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Deyaar Development H1 profit leaps 145%; firm to expand

Deyaar Development H1 profit leaps 145%; firm to expand
Deyaar
DEYAAR
-0.12% 0.81 -0.00
Dubai-based developer Deyaar Development, listed on the Dubai Financial Market (DFM), reported a consolidated net profit of AED 32.5 million for Q2-14 compared to AED 27.3 million in Q2-13, registering a 129% profit surge.

Meanwhile, H1-14 profit was recorded at AED 114.6 million compared to AED 46.6 million in H1-13, recording a 145% profit leap.

Total shareholders’ equity stood at AED 4.2 billion, with total assets recording AED 6.3 billion, Deyaar said in a statement to the DFM.

On another note, Deyaar said that it plans to continue meeting market needs and seeks to expand its product portfolio through launching new high-end projects in the hotels and hospitality sector.