Dubai – Mubasher: Dubai Investments reported a 53.53% year-on-year drop in net profits during the full year of 2018, recording AED 651.38 million.
That decline stemmed from the decrease in the fair value of investment properties, the Dubai-listed company said in a statement.
Revenue went up 7.7% to AED 3.02 billion at the end of 2018, compared to AED 2.784 billion in the year-ago period.
Moreover, the diversified Dubai-based investment group’s assets rose 13.35% to AED 19.626 billion last year versus AED 17.004 billion in 2017.
By the end of Thursday’s trading session, the company’s stock tumbled 4.58% to close at AED 1.250.
