Dubai's Union Properties Q2 net profit falls 96 percent

August 9, 2015 10:54 AM

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DUBAI Aug 9 Dubai's Union Properties reported a 96 percent slump in second-quarter net profit on Sunday as revenue from property management and home sales shrank and its year-earlier earnings were swelled by property revaluations.

Union Properties made a second quarter net profit of 19.37 million dirhams ($5.3 million), down from 527.36 million dirhams in the corresponding period of 2014, it said in a statement to Dubai's bourse.

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