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Mon 30 Jan 2017 03:09 PM

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Dubai Investments posts 2.9% rise in Q4 net profit

Conglomerate part-owned by sovereign fund Investment Corp of Dubai makes more than $100m profit during quarter

Dubai Investments posts 2.9% rise in Q4 net profit
Khaled bin Kalban, CEO, Dubai Investments.

Dubai Investments, a conglomerate in which sovereign fund Investment Corp of Dubai owns an 11.5 percent stake, reported a 2.9 percent rise in fourth-quarter net profit on Monday, according to Reuters' calculations.

Profit was 368.5 million dirhams ($100.3 million) in the three months to Dec. 31, compared with a profit of 358.1 million dirhams in the corresponding period of 2015.

Reuters said it made the calculation using financial statements in lieu of a quarterly earnings breakdown.

For the full-year of 2016 net profit reached 1.22 billion dirhams, up from 1.11 billion dirhams in 2015, the company said in a statement.

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