By Staff writer
Conglomerate owned by the emirate's ruler has interests in hospitality, business parks, real estate and telecoms
Dubai Holding Commercial Operations Group (DHCOG), part of a conglomerate owned by the emirate's ruler, reported a 24 percent increase in half-year net profit.
DHCOG has interests in hospitality, business parks, real estate and telecommunications. It made a net profit of AED2.6 billion ($707.91 million) in the first six months of 2015, up from AED2.1 billion in the prior-year period, according to a statement emailed this weekend.
In the statement, the company said it expects full-year net profit to exceed AED5.5 billion. It reported a profit of AED4.68 billion in 2014.
DHCOG did not provide a half-yearly revenue figure or explain the profit growth, aside from stating it "continued to see good operational progress with all businesses performing well and contributing to the Group's profitability".