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Thu 2 Jan 2014 01:54 PM

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Dubai Investments expects $217m profit in 2013

State-owned conglomerate set to see profit increase of nearly 150% compared to previous year

Dubai Investments expects $217m profit in 2013
Khalid bin Kalban, the companys chief executive.

Dubai investments expects to make a profit of around AED800m ($217.8 million) in 2013, a company statement said on Thursday, confirming local media reports.

Khalid bin Kalban, the company's chief executive, had told Al Khaleej newspaper that the net profit would be over AED800m at the end of 2013, a 149.5 percent increase over the AED320.6m of profit posted in 2012.

The state-owned conglomerate, in which sovereign fund Investment Corporation of Dubai own a 11.5 percent stake, has interests in several sectors including property and manufacturing.

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