Dubai Investments Q3 profit nearly doubles

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Conglomerate Dubai Investments saw third-quarter profits nearly double on the back of higher rental income and an improvement in the fair value of its investments.

The company, in which sovereign fund Investment Corp of Dubai owns an 11.5 percent stake, posted a third-quarter profit attributable to equity owners of AED161.1m ($43.9m) compared with AED81.4m for the year-ago period, it said in a bourse statement on Thursday.

Dubai Investments booked a gain of AED26.1m on fair valuation of investments against a loss of AED4.5m in the prior-year period.

Rental income rose to AED141.1m from AED115.8m, the company said.

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!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Blood on the bourse floor

Blood on the bourse floor

Arabtec’s share price collapse was the catalyst for a huge sell...

Taking stock

Taking stock

Gulf stock markets have seen a dearth of IPOs since the global...

Steering clear of the stock markets

Steering clear of the stock markets

Listing was all the rage three years ago, but IPOs have since...

Most Discussed