DUBAI, Jan 26 (Reuters) - Dubai’s Deyaar Development reported a 14 percent rise in fourth-quarter net profit on Tuesday.
The company made a profit of 101.5 million dirhams ($27.63 million) in the three months to Dec. 31, Reuters calculated based on its annual financial statement in lieu of a quarterly breakdown.
This compares with a profit of 88.8 million dirhams in the corresponding period of 2014.
An analyst at SICO Bahrain, polled by Reuters, forecast Deyaar would make a net loss in the quarter of 28.9 million dirhams.
Deyaar’s 2015 net profit was 291.4 million dirhams, up from 281.9 million dirhams in 2014, it said in an emailed statement.
$1 = 3.6730 UAE dirhams Reporting by Matt Smith; Editing by Tom Arnold