Dubai Investments Co, the UAE's largest diversified holdings firm by market value, made a profit of Dh436 million ($118.7 million) in the fourth quarter, up 77.4 per cent from the year-earlier period.
The company posted profit attributable to shareholders of Dh1.51 billion in 2007 compared with Dh989.47 million in 2006, it said in a statement, without giving quarterly data.
EFG-Hermes investment bank had forecast Dubai Investments' fourth-quarter profit at Dh140 million in a Reuters net profit survey last month.
Dubai Investments made Dh245.81 million in the fourth quarter of 2006 and Dh1.07 billion in the first nine months of 2007, according to financial statements posted on the stock market regulator's website. (Reuters)
Dubai Investments Q4 net profit soars 77%