Dubai-Nakheel developer posts 22pct grow in profit

(MENAFN) Dubai real estate developer Nakheel reported a 22 percent increase in third-quarter revenue.Moreover, the firm made a profit of USD26.1mn in the cited period, up from 781mn dirhams a year earlier.In addition, net profit for the Jan-Sep period of this year was 3.91bn dirhams, up from 3.61bn dirhams in the same period of 2015.Accordingly, the company proclaimed that it had settled 4.4bn dirhams of sukuk held by trade creditors, which had been due on August 25.