Dubai Investments' profits almost double
Profits have increased 87% in the first three quarters of 2014
Dubai Investments PJSC [DI], announced a net profit of $270mn for the first three quarters of 2014, an increase of 87% compared to a net profit of $144mn for the same period last year.
Total income increased to $653mn against $517mn for the comparable period last year.
Total assets as on 30 September were $3.8bn, while net worth increased to $2.6bn. The annualised return on share capital achieved for the period was also higher at 34.7%, compared to 21.5% 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 capitalize on the available opportunities in line with our growth strategy.
“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.”