I attributed it to the strong and continuous performance of the manufacturing, contracting and services sectors

"Dubai Investments" profits rise 20.5% to 346 million dirhams in the first half

  • The total assets of the “Group” remained stable at 22 billion dirhams.

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  • Khalid bin Kalban: “We focus on directing efforts towards expanding our business at the regional level, and identifying strategic investment opportunities.”

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Dubai Investments Company announced an increase in its net profit, during the first six months of this year, by 20.5% to reach 364 million dirhams, compared to 302 million dirhams recorded by the company during the same period last year.

The company explained in a statement yesterday that the profit growth was achieved mainly due to the strong and continuous performance of the manufacturing, contracting and services sectors.

The total assets of the group maintained its stability at 22 billion dirhams, while the total equity increased to 12.1 billion dirhams, during the first half of 2022, compared to 11.98 billion dirhams during the same period in 2021.

The group had completed a 50% exit deal from Emicool, provided that the profits generated from the deal and the fair value gain from the remaining investment, amounting to 980.4 million dirhams, be added to the results of the third quarter of 2022.

Vice Chairman and Chief Executive Officer of Dubai Investments, Khalid bin Kalban, said: “The results achieved in mid-2022 confirm the flexibility of the group’s business model, and prove that we are moving forward with confident steps through a continuous and consistent growth plan, in which the company focuses on the process Strategic diversification by entering into successful investments and deliberate exits.

Bin Kalban added, "Despite the ongoing global economic challenges, our outlook and expectations for the rest of the year remain cautiously optimistic, as we focus on directing efforts towards expanding our business at the regional level, and identifying promising strategic investment opportunities within our business."

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