Conglomerate reports a more than two-fold increase in its full-year profit to $223m
Conglomerate Dubai Investments reported a more than two-fold jump in its 2013 net profit on Wednesday, on the back of higher gain on fair value of its investments, profit from sale of properties and reduced finance costs.
The company, in which sovereign fund Investment Corp of Dubai owns an 11.5 percent stake, posted a net profit of AED822 million ($223.8 million), compared with AED321.4 million in 2012.
Revenue for the period was AED2.8 billion compared to AED2.3 billion in 2012.
The company did not provide quarterly figures.