Dubai - Mubasher: Dubai Investments, listed on the Dubai Financial Market, posted a 17% year-on-year growth in profits for the second quarter of 2019, recording AED 151 million.
In the first half of 2019, profit stood at AED 353 million, compared to AED 491 million in H1-18, according to a press release.
Profits for the respective periods included gains on merger and acquisitions (M&A) transactions worth AED 64 million and AED 333 million, Dubai Investments highlighted.
Total assets increased by AED 1.09 billion to AED 20.65 billion as at 30 June 2019, the company said, noting that the annualised return on equity for H1-19 was 5.9%.
Khalid Bin Kalban, managing director and CEO of Dubai Investments, said: “Dubai Investments has demonstrated its ability to generate strong performance consistently, despite the challenging economic environment. This is due to the group’s resilient and diversified nature, enabling delivery of sustainable results”.
“We are progressing well in our real estate development projects as well as manufacturing and investments sectors. These are expected to contribute to Dubai Investments continued growth in profitability and deliver value to shareholders,” he added.
In May, Dubai Investments posted a 44% drop in its profits for Q1-19, registering AED 202 million, versus AED 361.9 million in Q1-18.
