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RAK Properties posts 30.5% drop in Q2 profit
Date: 11-08-2012
RAK Properties has posted a 30.5% fall in second-quarter net profit to Dhs23m ($6.26m) on higher provisions for the period, and said it will focus on maximising property handovers, sales and leasing, Zawya Dow Jones has reported. The developer said its second-quarter fell from Dhs33.1m in the same period one year ago. Revenues for the period came in at Dhs255.2m, up from Dhs59.2m as the company delivered 808 apartments in the Ras Al Khaimah.
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