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Deyaar FY14 profit jumps 50%

Deyaar FY14 profit jumps 50%
Deyaar
DEYAAR
-0.74% 0.80 -0.01

Abu Dhabi-Mubasher: Deyaar Development posted AED 231.73 million net profit for FY14, with 50% growth compared with AED 154.5 million a year earlier.

According to the consolidated financial results of Dubai Islamic Bank (DIB), Deyaar’s total revenues rose to AED 472 million compared with AED 281.48 million.

Financial results for the first nine months of FY14 had shown 121.5% surge in net profit year-over-year.

Deyaar, a 45%-owned subsidiary of DIB, operates in real estate development and management according to Sharia.

Photo Credit: Arabianeye-Reuters