DAMAC REAL ESTATE DEVELOPMENT LIMITED Reports … · DAMAC REAL ESTATE DEVELOPMENT LIMITED Reports...
Transcript of DAMAC REAL ESTATE DEVELOPMENT LIMITED Reports … · DAMAC REAL ESTATE DEVELOPMENT LIMITED Reports...
DAMAC REAL ESTATE DEVELOPMENT LIMITED Reports net profit of $527 million in first half of 2016
DAMAC Real Estate Development Limited (“DAMAC” or the "Company"), a leading developer of high-end and luxury residential property in the Middle East, announces results for the half year ending 30 June 2016.
Financial Statements are available at:
https://www.damacproperties.com/en/investor-relations/financial-information/damac-real-estate-development-limited/financial-statements
Performance Highlights
Revenue at $917.8 million for 1H 2016
Gross profit at $538.0 million for 1H 2016
Net Profit at $527.2 million for 1H 2016
Total assets stood at $6,397.7 million as at 30 June 2016.
Gross Debt stood at $1,014.6 million as at 30 June 2016 representing Gross debt to
equity ratio of 0.34.
Cash and bank balance stands at $2,395.8 million as at 30 June 2016
Booked Sales of $986.4 million for 1H 2016
Total deliveries of 494 units in 1H 2016
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For further information: [email protected]