Deyaar Development has reported a 14% rise in net profit for the fourth quarter of 2015.
The Dubai-based company recorded a profit of $27.63m (AED101.5m) in the three months to Dec. 31, Reuters calculated based on its annual financial statement in lieu of a quarterly breakdown.
This is in comparison with a profit of $24.1m (AED88.8m) in the corresponding period of 2014.
A SICO Bahrain analyst, polled by Reuters, predicted Deyaar would record a net loss of $7.8m (AED28.9m) during the fourth quarter of 2015.
Deyaar’s 2015 net profit was $79.3m (AED291.4) in comparison to $76.7 (AED281.9m) in 2014, it said in an emailed statement.
