Published On: Tue, Oct 28th, 2014

Dubai Investments net profit surges 87 percent during first 9 months of 2014

Khalid Bin Kalban,  Managing Director and CEO Dubai Investments PJSC

Khalid Bin Kalban, Managing Director and CEO Dubai Investments PJSC

Dubai Investments, DI, today announced a net profit of AED995 million for the nine-month period ended 30th September 2014, registering an increase of 87 percent compared to a net profit of AED531 million for the same period last year.

The company said that total income increased to AED2.4 billion for the nine-month period ending 30th September 2014, as against AED1.9 billion for the comparable period last year. Total assets as on 30th September 2014 stood at AED14.25 billion, while net worth increased to AED9.76 billion. The annualised return on share capital achieved for the period was also higher at 34.7 percent, compared to 21.5 percent for the full year of 2013.

Khalid bin Kalban, Managing Director and CEO of Dubai Investments, said, “Dubai Investments has yet again provided strong year-to-date results for 2014 which demonstrates the strength of our diversified portfolio. We are witnessing optimistic sentiments across various sectors of the economy, which places us in a good position to capitalise on the available opportunities in line with our growth strategy.” He added, “DI has ramped up its liquidity following strong operating results and this will enable us to take advantage of opportunities in the market. Several projects and investments are currently under consideration and these will maintain the momentum going forward while providing enhanced value to shareholders.” DI owns around 35 subsidiaries and joint ventures encompassing a diverse range of sectors including manufacturing of construction-related materials, fast moving consumer goods, pharmaceuticals, industrial and commercial properties, real estate management and property development, information technology solutions, driver education, district cooling and financial investments.

Source : WAM News Agency for United Arab Emirates

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