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RAK Properties nine-month profit, share price dive
- United Arab Emirates: Sunday, October 21 - 2012 at 14:19
Ahead of the Islamic Eid-ul Adha festival end of this week, the Abu Dhabi market index ADXGI closed Sunday trading flat at 2,652.45 amid relatively low trading turnover. Gains at energy bellwether Taqa (up 1.54%) and the sheikhdom's first lender National Bank of Abu Dhabi (0.41% higher) failed to lift the market. Ras al-Khaima (RAK) Properties plummeted 2.50% to hit Dhs0.38. Earlier in the day, the developer said that its nine-month profit fell 13% to Dhs86m year-on-year. "During the year, the firm handed over 564 units to customers," the firm, said in an e-mailed statement. RAK Properties develops which develops residential and commercial property in the emirate of RAK like the waterfront community "Mina al-Arab" or the43-storey building "RAK Tower".
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Gérard Al-Fil, Financial JournalistSunday, October 21 - 2012 at 14:19 UAE local time (GMT+4)
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