dayofdubai | Dubai Investments reports net profit of AED 459 million for the nine month period ended September 30, 2019

Monday, Jun 19, 2023
Hijri Date
℃ Dubai, UAE

Business

ID Number 9702
Aug 07, 2023
202

Dubai Investments reports net profit of AED 459 million for the nine month period ended September 30, 2019

Dubai Investments PJSC [DFM: DIC], the leading, diversified investment company listed on the Dubai Financial Market, 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 profits of AED 64 million and AED 333 million in M&A transactions these are very quite comparable to results without consideration.

Total revenues for the period were AED 2.12 billion while total assets reaching AED 20.64 billion at the end of Q3, 2019. The annualized return on equity for the period was 5.13%.

Managing Director and CEO of Dubai Investments, Khalid Bin Kalban, said: Dubai Investments has been consistent in produce 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 assets, the Companys net profit has in fact grew by AED 104million.

He added: We are focused on delivering of our real estate developments, which will enable us to monetize these assets and move forward with our strategy to create a diversified investment portfolio that will deliver sustainable returns to our shareholders."

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