RAK Properties Profit Down 33%Thursday, July 16, 2009
RAK Properties has said its net profit for the second quarter had declined 33.78% to Dhs73.3m from Dhs110.7m in the same period last year. First-half net profit fell 36.38% to Dhs143.31m from Dhs225.27m the same period last year, while net assets were at Dhs3.12bn, including Dhs485m in cash, the company has said. The developer has Dhs1.21bn in liabilities as of June 30, including Dhs787m in customer installments shown as payable until projects are delivered. Source: AME Info
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