Dubai Investments Q2 profit jumps 50%

PROFITS BOOST: Real estate helped to boost margins for Dubai Investments. (Getty Images)

Dubai Investments Co, the UAE's largest diversified holdings firm by market value, made profit of 546.72 million dirhams ($148.8 million) in the second quarter, up 50.3 percent from a year earlier.

The company posted a net profit of 1.035 billion dirhams in the first half of the year compared with 803 million a year ago, it said in a statement on Wednesday, without giving a quarterly figure.

Chief Executive Khalid bin Kalban had earlier said the firm's profit was 1.35 billion in the first half.

Reuters calculated the quarterly figure based on earlier financial statements. Middle East Brokerage said in a Reuters net profit survey last month it expected Dubai Investments to make 535.49 million dirhams in quarterly profit.

Dubai Investments posted profit attributable to shareholders of 363.84 million dirhams in the second quarter of 2007 and 488.28 million dirhams in the first quarter of this year. (Reuters)

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