Dubai Investment Company announced a profit of AED 151 million for the second quarter of 2019, an increase of 17% over the same period of 2018.
Earnings for the first six months of this year amounted to AED 353 million compared to AED 491 million in 2018, including profits from M & A of AED 64 million and AED 333 million for the respective periods, it said in a statement yesterday.
Earnings for the first half of 2019, excluding these extraordinary items, rose by AED 131 million over the same period last year.
Total assets grew by AED 1.09 billion during the first half of 2019 to reach AED 20.65 billion as of June 30, 2019, while the annual return on equity during the period was 5.9%.
Managing Director and Chief Executive of Dubai Investments, Khalid Bin Kalban, said the company has demonstrated its ability to consistently deliver strong performance.
"These results look good when economic challenges are taken into consideration. This is due to the flexible and diverse nature of the Group's operations, enabling it to achieve sustainable results. " Bin Kalban said that the company is making significant progress in its various projects covering various sectors including real estate development, manufacturing and investment, which will contribute to enhancing Dubai Investments' capabilities and support them to continue to grow their profitability and ensure better value to their shareholders.