Dubai: Dubai Investments PJSC (DI) has announced a net profit of Dh161 million in the third quarter of 2013, a 98 per cent increase, compared to the Dh81.4 million profit in the third quarter of 2012.
Profit for the nine months ended September 30, 2013, was Dh531 million, an increase of 110 per cent as compared to Dh252 million achieved in the comparable period last year.
DI reported a consolidated total income of Dh1.9 billion, as against Dh1.7 billion in the same period last year with the total assets amounting to Dh12.6 billion. DI net worth increased to Dh8.8 billion while the annualised return on equity achieved for the nine-month period was 8.08 per cent as against 3.98 per cent in the comparable period last year.
DI said it has restated its assets and liabilities following deconsolidation of the joint ventures but there is no impact on either the profitability or net worth of the group.
Momentum to continue
“DI has yet again achieved very strong results. With the upswing in the economic and investment climate in the UAE and the region, we expect the momentum to continue for the rest of the year,” said Khalid Bin Kalban, Managing Director and CEO of Dubai Investments.
DI owns around 40 subsidiaries and joint ventures encompassing a diverse range of sectors including manufacturing of construction-related materials, food and dairy products, pharmaceuticals, industrial and commercial properties, real estate management and property development, marketing and sales, information technology solutions, driver education, district cooling and financial investments.
