DUBAI: Dubai Investments has announced that it reported net profit of Dh459 million for the period ending September 30 compared to Dh724 million for the same period last year. These profits include exceptional items related to gains on M&A transactions of Dh64 million and Dh333 million for the respective periods and results without considering these are quite comparable.
Total income during the period was Dh2.12 billion while total assets reached Dh20.64 billion as at the end of the third quarter of 2019. The annualised return on equity for the period was 5.13 per cent.
Commenting on the announcement, 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 Dh104 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.”