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04-03-14

DAMAC profits triple in 2013

(MENAFN) Dubai-based developer DAMAC said that its net profit last year tripled due to increased sales, Khaleej Times reported. The company said that its net profit hit USD641.5 million in 2013, up from USD212.5 million in the year before it. The developer said that its sales came at USD2.5 billion in the year, versus USD661 million in the year before it. The developer's revenue soared 77 percent to USD1.2 billion in 2013.