Dubai: The industrial parks developer and operator Dubai Investments is the latest listed company to post upbeat H1-2022 numbers, with a 20.5 per cent rise in net profit to Dh364 million, compared to Dh302 million last year.
"We are already halfway through 2022 and the results during this time reiterate the resilience of our business model," said Khalid Bin Kalban, Vice-Chairman and CEO. "It is worthy to note that we have been moving steadily with a continuous and a consistent growth plan.
"As a Group, we are focussed on a strategic diversification process through organized investments and divestments. Despite the challenging macro economic environment, our outlook for the rest of the year remains cautiously optimistic, as we are focused on channelising efforts towards expanding business regionally and identifying strategic investment opportunities across our businesses.”
The group completed divestment of 50 per cent equity in Emirates District Cooling (Emicool), and will recognize the resultant gain on disposal and fair valuation gain on retained interest amounting to Dh980.4 million in Q3-2022.
"Despite the challenging macro economic environment, our outlook for the rest of the year remains cautiously optimistic, as we are focused on channelising efforts towards expanding business regionally and identifying strategic investment opportunities across our businesses," said Bin Kalban.
Total assets for the Group remained stable at Dh22 billion, while total equity increased to Dh12.1 billion compared to Dh11.98 billion last year.
