Ras Al Khaimah Properties (RAK Properties) has announced its financials for the nine-month period ending September 30, 2014, during which it reported a net profit amounting to AED 74.4 million, compared to AED 70.7 million during the first nine months of 2013, registering a five percent growth in net profit.

In its statement to the Abu Dhabi Securities Exchange (ADX), RAK Properties revealed a decline in its sale revenue during the period, registering AED 215.77 million against AED 219.6 million during the same nine-month period in 2013.

Furthermore, the cost of sales for the Company amounted to AED 136.13 million against AED 124.4 million during the same period in 2013.