Dubai Investments posts net profit of AED 459 million

DUBAI: Dubai Investments (DIC) has reported net profit of AED 459 million for the period ending September 30, 2019 compared to AED 724 million for the same period last year.

These profits include exceptional items related to gains on M&A transactions of AED 64 million and AED 333 million for the respective periods and results without considering these are quite comparable.

Total income during the period was AED 2.12 billion while total assets reached AED 20.64 billion as at the end of Q3 2019. The annualized return on equity for the period was 5.13%.

Khalid Bin Kalban, Managing Director and CEO of Dubai Investments, said: “Dubai Investments has been consistent in generating strong operational results and the trend has continued for this year as well. Excluding the one-off gain from M&A transactions and gain on fair valuation of investment properties, the Company’s net profit has in fact grown by AED 104 million”.

He added: “We are focused on delivery of our real estate developments which will enable us to monetise these assets and progress with our strategy to build a diversified investment portfolio capable of delivering sustainable returns to our stakeholders”.

Dubai Investments PJSC is a leading investment company listed on the Dubai Financial Market (DFM) with over 16,771 shareholders and a paid up capital of AED 4 billion. Incorporated in 1995, the Company has grown exponentially, and its diversified portfolio currently holds 35 subsidiaries and joint ventures across 23 sectors. Since its inception, Dubai Investments has introduced cutting edge technologies, pioneering business models, unique investment strategies and innovative concepts, driving progress across key sectors and markets including construction and building materials, real estate, manufacturing and industrial, healthcare, education and financial investments across the UAE and the Middle East.

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