Dubai Investments reports net profit of AED 282 million for Q1 2015

29/04/2015 16:47 AST

Dubai Investments PJSC [DI], the leading investment company listed on the Dubai Financial Market [DFM], today announced net profit of AED 282 million for the first quarter of 2015, an increase of 6.5 per cent compared to AED 265 million for the same period last year.

Dubai Investments’ total assets rose to AED 14.67 billion, compared to AED 13.2 billion as on March 31, 2014 while the consolidated total income in Q1 2015 was AED 543 million, as against AED 738 million in the corresponding period last year. The Company’s net worth grew to AED 10.39 billion, compared to AED 9.3 billion at the end of Q1 2014.

The annualized return on equity achieved for the period was 10.8 per cent.

Khalid Bin Kalban, Managing Director and Chief Executive Officer, Dubai Investments PJSC, said: “Dubai Investments continues to leverage on its diversified business model to record consistent growth in its net profit and assets. 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. 2015 is a very active year for Dubai Investments and will witness a number of project announcements across its portfolio.”

Kalban added: “The outlook for 2015 is positive, and the Company is targeting diversified sectors such as financial services, education, healthcare and energy. Further, the Company is in negotiations to enter into new geographical markets of Africa and GCC. Several new investment proposals are currently under evaluation, with some of them in advanced stages of negotiations.”

The Company has consolidated its position in the glass sector by acquiring additional 20.15 per cent interest in Emirates Float Glass LLC, increasing its ownership to 87.43 per cent.

CPI Financial