Dubai Investments posts net profit of US$ 197 mn in 9M
Posted on 2nd November 2018
According to *Tradearabia news report, Dubai Investments, a leading, diversified investment company, has reported net profit of Dh724 million ($197 million) for the nine-month period ending September 30 compared to Dh830 million for the same period last year.
Total assets grew to Dh19.44 billion and total income during the period increased to Dh2.42 billion from Dh2.03 billion for the same period last year. The annualized return on equity for the period was 7.88 per cent.
Khalid Bin Kalban, managing director and CEO, Dubai Investments, said: “The results from the first nine months of 2018 demonstrates the resilience and strength of our diversified business model which has kept us in good stead through the various economic cycles. We have strengthened our asset base with the 50 per cent acquisition of Emicool and aim to further it with both organic and inorganic growth.”
“We are moving ahead with our planned strategies of monetizing our real estate assets and project developments which are well on target. We have already made substantial investments in the education and healthcare sectors, with several other opportunities in various stages of assessment and evaluation.
“We are also looking at unlocking value in certain assets by profitable exits as we continue with our objective of delivering consistent and sustainable returns to our shareholders,” he added.
*News source: http://tradearabia.com/news/CO...Back to all Construction News
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