Dubai Investments' net profit increases by 25% in Q1
Posted on 8th May 2018
According to *Tradearabia news report, Dubai Investments, a leading diversified investment group, has posted a net profit of Dh362 million for the first quarter (Q1) of the year, against Dh289 million during Q1 2017, marking a rise of 25 per cent.
A UAE conglomerate, Dubai Investments has investments in a number of businesses across core sectors – real estate, manufacturing, industrial and financial investments - across the UAE and the Middle East.
Announcing the results for the first three months, the Dubai group said its total Income increased by 33 per cent to Dh927 million as compared to Dh697 million for Q1 2017, while earnings per share increased by 28 per cent to Dh0.09/share as compared to Dh0.07/share for Q1 2017.
Total assets rose to Dh19.2 billion as compared to Dh17 billion as at December 31, 2017 and the annualized return on equity achieved for the period was 11.86 per cent.
Khalid Bin Kalban, managing director and CEO of Dubai Investments, said: “Dubai Investments is pleased to announce strong Q1 results which have been driven by the strategic acquisition of additional 50 per cent stake in Emirates District Cooling LLC (Emicool).”
“The Company has a strong pipeline of ongoing real estate developments such as Mirdif Hills and are also working on several other projects and transactions which will continue to enhance shareholder’s value.
“These include launching a multi-asset class REIT expected to be listed on the local market, IPO of Emicool and establishment of the campus of University of Balamand in Dubai. Further, the Group is also targeting investments in sectors related to financial services, education, healthcare and entertainment with a strategy of diversifying its asset base,” Kalban added.
The company’s portfolio includes 35 subsidiaries and joint ventures across a diverse range of sectors and continues to seek new investment opportunities, locally and internationally, as part of its strategic roadmap.
*News source: http://tradearabia.com/news/CO...Back to all Construction News
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