Sorouh shares lose on nine-month profit decline

01 November 2010

Losses in the banking and real estate sector weighed on the ADX General Index, closing 0.45% lower at 2,803.42 points. Real estate developer Sorouh (off 2.23% at Dhs1.75), which is well-known through its project Shams (Sun) Abu Dhabi, suffered from reporting a 54% lower 9-month net profit of Dhs215m compared to the corresponding period in 2009. Earnings per share for Q3 2010 fell to Dhs0.02 from Dhs0.07.

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