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Kalban ... better operating results.

Dubai Investments posts $137m H1 profit

DUBAI, July 29, 2015

Dubai Investments (DI), a leading investment company listed on the Dubai Financial Market, has announced a net profit of Dh506 million ($137.73 million) for the six months ended June 30, 2015, compared to Dh806 million ($219.39 million) for the same period last year.

Total assets as at June 30, 2015 increased to Dh14.77 billion, while net worth increased to Dh10.14 billion. The annualised return on equity achieved for the period was 10 per cent, a statement from the company said.

Khalid Bin Kalban, managing director and CEO, Dubai Investments, said: “In the previous year, DI had made a profit amounting to Dh472 million on divestment of Globalpharma including fair value gain on retained interest. Excluding this one-off item, the profit for the current period has increased by Dh172 million on account of growth and better operating results across industrial and property segments of the group.”

The year 2015 continues to be an active one for DI. During the current period, the company completed the acquisition of a 59.66 per cent stake in Al Mal Capital and increased its shareholding in certain subsidiaries and joint ventures.

DI also divested its interest in International Rubber Company and Techno Rubber Company. These acquisitions and divestments are integral to the group’s strategy of delivering enhanced value to its shareholders, he said.

Kalban added: “We are quite positive on the outlook for the remainder of the year and are exploring fresh avenues to expand our geographical footprint and strengthen our assets. To this end, we are evaluating several proposals spanning sectors across healthcare, education, industrial and property.” - TradeArabia News Service
 




Tags: profit | Dubai Investments |

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