Business | Investment
Dubai Investments registers 56% increase in consolidated quarterly net profits
Dubai Investments PJSC (DI) maintained its excellent earnings growth with net profit for the nine-month period ending September 30, 2008 surging to record levels. Net profit for the period rose to Dh1.67 billion from Dh1.07 billion for the same period last year, an increase of 56 per cent.
- Staff Report
- Published: 15:38 October 30, 2008
Dubai: Dubai Investments PJSC (DI) maintained its excellent earnings growth with net profit for the nine-month period ending September 30, 2008 surging to record levels. Net profit for the period rose to Dh1.67 billion from Dh1.07 billion for the same period last year, an increase of 56 per cent.
Total income for the period increased to Dh4.10 billion from Dh2.59 billion for the same period last year, an increase of 58 per cent.
The net profit for the third quarter of 2008 (3Q08) increased to Dh635 million from Dh268 million for the third quarter of 2007 (3Q07), an increase of 137 per cent. The total income for 3Q08 increased to Dh1.44 billion from Dh812 million, an increase of 77 per cent.
Total shareholders' equity at September 30, 2008 was Dh7.38 billion, representing a growth of 66 per cent over equity of Dh4.44 million at September 30, 2007. This was achieved due to significant growth in net profit and increase in share capital on rights issue.
The return on average equity achieved for the period is 27 per cent. The earnings per share (EPS) for the period is Dh0.49, higher than the EPS of Dh 0.36 for the previous period.
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