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23 May 2024

Dubai Investments 2013 profit jumps 2-fold to Dh822m

By Reuters

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 Dh822 million ($223.8 million), compared with Dh321.4 million in 2012.

Revenue for the period was Dh2.8 billion compared to Dh2.3 billion in 2012.

The company did not provide quarterly figures.