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Dubai Investments Q3 profit slips 56pc
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DIC
.83
-0.007
-0.83%
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01/Nov/2009
Reuters
Dubai Investments Company posted a net profit of 280.7 million dirhams ($76.25 million) in the third quarter, down 56 per cent on the year earlier period, driven by lower income from property sales.
The conglomerate, which operates in the investment, manufacturing, dairy production and real estate sectors, posted a net profit of 634.9 million dirhams in the third quarter of 2008.
Profit fell as income from the sale of properties slumped to 77.7 million dirhams from 419.69 million dirhams in the year earlier period, according to a statement on the Dubai bourse website.
Dubai Investments derives most of its revenue from the United Arab Emirates and other Gulf countries.
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Profile: Dubai Investment Co. (DIC ) |
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