The ruler of Dubai's flagship company, Dubai Holding, said on Sunday its unit Dubai Holding Commercial Operations Group (DHCOG) has almost tripled its 2013 net profit to AED3.3 billion ($900m) thanks to a surge in core operational revenues.
DHCOG, which runs four businesses operating in 24 countries, reported a 178 percent increase in net profit from AED1.2 billion a year earlier, the company said in an emailed statement.
During the year, total revenues rose by 27 percent to AED11.6 billion, while total assets reached AED116 billion.
It incorporates hotels group Jumeirah, business park TECOM Investments and Emirates International Telecommunications, as well as a real estate division, Dubai Properties Group.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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