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Tue 26 Jan 2016 05:17 PM

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Dubai developer Deyaar says Q4 net profit rises 14%

Property firm says it made a profit of $27.6m in the three months to Dec 31

Dubai developer Deyaar says Q4 net profit rises 14%

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.

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