February 2, 2015 / 7:11 AM / 3 years ago

Dubai developer DAMAC Q4 profit rises 11 pct

DUBAI, Feb 2 (Reuters) - Dubai-based property developer DAMAC reported an 11 percent rise in fourth-quarter profit on Monday.

The developer, which originally listed global depository receipts in London before joining Dubai's main bourse in January, made a profit of $249.8 million in the three months to Dec. 31, according to Reuters calculations based on a company statement. This compares with a profit of $225.1 million in the year-earlier period.

DAMAC's 2014 full-year profit was $937 million, up from $641.5 million in 2013, the company said in a filing to London's bourse. (Reporting by Matt Smith; Editing by Olzhas Auyezov)

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