Home / NEWS / Deyaar sees AED243 million loss for second quarter

Deyaar sees AED243 million loss for second quarter

by Ben Roberts on Aug 15, 2010

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The company has a number of projects across Dubai.

Deyaar Development, the Dubai-based developer, posted an AED243 net loss for the second quarter as to bring the total loss for the year so far close to AED343 million.

The company, which manages around 16,000 commercial and residential properties across four business areas, made the quarterly announcements to the stock exchange today. Last year it posted a profit of AED76,4 million for the second quarter.

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Three months ago the company posted a first-quarter net loss of AED99.1 million. The company’s gross revenues for the three months ending 30th June 2010, stood at AED79.7 million, with its total equity standing at AED6.4 billion at that date.

The company’s shares rose 0.3% to close at 30 fils – down 40% from 50 fils on 1st April.

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