Dubai Investments – According to report 17% Increase in Q2 Profits
Dubai Investments has reported a profit of Dh151 million for the second quarter of 2019, an increase of 17 per cent when compared to the same period last year.
Profit for the first six months of the year was Dh353 million as compared to Dh491 million in the previous year. These included gains on M&A transactions of Dh64 million and Dh333 million for the respective periods. Profits for H1 2019 without considering these exceptional items has increased by Dh131 million when compared to the previous period. The company’s total assets grew by Dh1.09 billion during H1 2019 and reached Dh20.65 billion as on June 30, 2019. The annualise return on equity for the period was 5.9 per cent
Khalid Bin Kalban, managing director and CEO of Dubai Investments, said: “Dubai Investments has demonstrated its ability to generate strong performance consistently, despite the challenging economic environment. This is due to the group’s resilient and diversified nature, enabling delivery of sustainable results. We are progressing well in our real estate development projects as well as manufacturing and investments sectors. These are expected to contribute to Dubai Investments continued growth in profitability and deliver value to shareholders.”
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