Dubai – Mubasher: Dubai Investments on Tuesday stated that its profits increased 5% year-on-year in the third quarter of 2017.
The firm’s profits stood at AED 350.36 million ($95.37 million) in Q3-17, compared to AED 334.4 million ($93.74 million) in Q3-16, according to a bourse statement.
The company attributed the growth in its year-on-year profits to the increase in leasing revenues by 0.9% to reach AED 232.13 million.
The operating expenses tumbled to AED 324.226 million in Q3-17, from AED 384.314 million in the same period in the year earlier.
Sales fell 2.3% to reach AED 206.94 million, and total income levelled down 8% to reach AED 749.2 million in Q3-17.
The firm’s profits decreased 2% to AED 830.3 million by the end of the first nine months of 2017, compared to AED 850.3 million in the corresponding period in the year earlier.
The contracts’ revenues plunged 25% to reach AED 266.1 million during the first nine months in 2017.
