Dubai Investments reports 17% increase in second quarter profits

Dubai Investments PJSC [DFM: DIC], the leading, diversified investment company listed on the Dubai Financial Market, reported profit of AED 151 million for the second quarter of 2019, an increase of 17% when compared to the same period last year.

Profit for the first six months of the year was AED 353 million as compared to AED 491 million in the previous year. These included gains on M&A transactions of AED 64 million and AED 333 million for the respective periods. Profits for H1 2019 without considering these exceptional items has increased by AED 131 million when compared to the previous period. 

Company’s total assets grew by AED 1.09 billion during H1 2019 and reached AED 20.65 billion as on 30th June 2019. The annualized return on equity for the period was 5.9%.

In his comments, 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”. 

He added: “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”.