We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Wed 29 Jan 2014 02:41 PM

Font Size

- Aa +

Dubai Investments sees huge leap in 2013 net profit

Conglomerate reports a more than two-fold increase in its full-year profit to $223m

Dubai Investments sees huge leap in 2013 net profit
Dubai Investments Park is owned by Dubai Investments.

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.

Arabian Business: why we're going behind a paywall

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.