A bad one for...

Gulf Business - - NEWS AND VIEWS -

Da­mac Prop­er­ties: The Dubaibased prop­erty de­vel­oper suf­fered a third con­sec­u­tive profit de­cline last month, as the costs of sales rose. The firm’s profit fell 20 per cent in the July-Septem­ber pe­riod to Dhs719.34m ($195.86m), com­pared with Dh­s902m profit in the same quar­ter last year. Rev­enue rose by 31 per cent to Dhs2.29bn, and the cost of sales in­creased to Dhs1.3bn from Dhs788.6m last year.

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