Dubai: Dubai Investments reported on Wednesday a Dh282 million net profit for the first quarter of 2015.
Net profit for the first three months of the year ending March 31 was up 6.5 per cent compared to the Dh275 million Dubai Investments made in the same period last year, according to an emailed statement from the Dubai-bourse listed company.
Total assets rose Dh14.67 billion compared to Dh13.2 billion as of the end of March 2014. Consolidated income for the first quarter was Dh543 million, down 26.4 per cent compared to Dh738 million a year earlier. Company net worth grew Dh10.39 billion, up from Dh9.3 billion.
“Dubai Investments continues to leverage on its diversified business model to record consistent growth in its net profit and assets,” stated Khalid Bin Kalban, managing director and chief executive officer, Dubai Investments.
“The Company’s real estate and manufacturing businesses have witnessed positive trends, and both the sectors are expected to continue the growth trajectory through the year,” he added.
Dubai Investments said it has consolidated its position in the glass sector by acquiring an additional 20.15 per cent in Emirates Float Glass. Its ownership has increased to 87.43 per cent.
Kalban also said that 2015 will be a “very active year” with a “number project announcements across its portfolio”.
“The outlook for 2015 is positive, and the company is targeting diversified sectors such as financial services, education, health care and energy,” he said.
Dubai Investment shares closed up 3.68 per cent to Dh3.10 on the Dubai Financial Market (DFM) on Wednesday.
