Dubai Investments Q1 net profit jumps 26%

  • Share via facebook
  • Tweet this
  • Bookmark and Share
Dubai Investments, CEO Khalid Bin Kalban.

Dubai Investments, CEO Khalid Bin Kalban.

Dubai Investments' first-quarter net profit rose 26 percent, the conglomerate said in a bourse filing on Monday, adding that it planned to sell off some assets.

Confirming their forecast a week ago, the company said its profit for the three months to March 31 was AED265 million ($72.2 million). That would compare with a profit of AED211 million in the prior-year period.

In the same statement, the company quoted its chief executive officer, Khalid Bin Kalban, as saying: "We are edging towards completion of a divestment transaction which will significantly contribute to the group's profitability."

Kalban did not give further details.

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Beating state debt addiction proves hard for UAE banks

Beating state debt addiction proves hard for UAE banks

Banks' exposure to the public sector as a percentage of capital...

MidEast boutiques seek to become fashionable M&A choice

MidEast boutiques seek to become fashionable M&A choice

Number of such firms in the Middle East is growing, centred on...

Saudi money market turmoil shows bank jitters over bond issues

Saudi money market turmoil shows bank jitters over bond issues

Money market moves show concern about Saudi banks' ability to...

Most Popular
Most Discussed