Dubai: Deyaar's Q3 2015 net profit drops by 38%

The developer said it earned $51.7m in the first nine months of 2015, but did not elaborate on its reduced net profit for Q3

Deyaar reported a 37.7% drop in its net profit for Q3 2015.
Deyaar reported a 37.7% drop in its net profit for Q3 2015.

Dubai-based developer, Deyaar, reported a 37.7% drop in its net profit for the third quarter of 2015. 

The company made a quarterly profit of $13.3m (AED48.9m) in the three months to 30 September, 2015. 

According to Reuters, this is significantly lower than the firm's profit of $21.3m (AED78.5m) in the corresponding period for 2014. 

Deyaar said it made $51.7m (AED190m) in the first nine months of 2015, without giving further details. 

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