Property firm says it made a profit of $27.6m in the three months to Dec 31
Dubai's Deyaar Development reported a 14 percent rise in fourth-quarter net profit on Tuesday.
The company made a profit of 101.5 million dirhams ($27.63 million) in the three months to Dec. 31, Reuters calculated based on its annual financial statement in lieu of a quarterly breakdown.
This compares with a profit of 88.8 million dirhams in the corresponding period of 2014.
An analyst at SICO Bahrain, polled by Reuters, forecast Deyaar would make a net loss in the quarter of 28.9 million dirhams.
Deyaar's 2015 net profit was 291.4 million dirhams, up from 281.9 million dirhams in 2014, it said in an emailed statement.For all the latest real estate news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.