Dubai Investments sees 150% jump in profits

Dubai investments expects to make a profit of around Dh800 million ($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 Dh800 million at the end of 2013, a 149.5 per cent increase over the Dh320.6 million 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.

Follow Emirates 24|7 on Google News.