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30 November 2023

Dubai Investments' Q4 net profit rises 2.6%

By Vicky Kapur & Reuters

Dubai Investments has reported a 2.6 per cent increase in its fourth-quarter net profits.

A bourse filing today (Monday) showed the Dubai-listed firm made net profits of Dh1.11 billion in 2015.

“Excluding one-off profit amounting to Dh472 million on divestment (including fair value gain on retained investment), this is an increase of Dh238m over profit achieved for the financial year 2014,” it noted in the filing.

Including the one-off profit, Dubai Investments made net profits of Dh1.34bn in 2014, bourse data shows.

The conglomerate, in which sovereign fund Investment Corp of Dubai (ICD) owns an 11.5 per cent stake, made a profit of Dh357.3m in the three months to December 31, Reuters calculated based on its annual financial statement in lieu of a quarterly breakdown.

This compares with a profit of Dh348.1m in the corresponding period of 2014, the news agency said.