Dubai Investments reports net profit of AED 350 million for Q3 2017

Dubai Investments, the leading, diversified investment company listed on the Dubai Financial Market, has reported net profit of AED350 million for the quarter ending September 30th, 2017, an increase of 4.8 percent over the AED334 million achieved during the same quarter last year.

The company’s net profit for the first nine months of 2017 was AED830 million, compared to AED850 million for the same period in 2016. Total income during the period was AED2.03 billion, while total assets reached AED16.73 billion as of the end of Q3 2017.

As of September 30th, 2017, Dubai Investments generated annualised return on equity of 9.47 percent. Earnings per share was AED0.20 for the period.

Khalid Bin Kalban, Managing Director and CEO of Dubai Investments, said, "Dubai Investments registered strong results for the first nine months of 2017. Excluding the one-off gain from divestments amounting to AED186 million in 2016, the company’s net profit has in fact grown by AED166 million. The increase in profit is attributable to increase in rental income by AED36.8 million and corresponding increase in gain on fair valuation of investment properties by AED126.6 million."

He added, "Dubai Investments is on track to achieve its targets and is progressing with its strategy of enhancing its investments in the healthcare and education sectors. At the same time, the company is focused on various real estate development projects which will monetise its land bank and deliver value to its shareholders."