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

31/10/2017

• Total assets as on September 30, 2017 increases to AED 16.73 billion
• Total income for the first nine months of 2017 was AED 2.03 billion

Dubai, October 31, 2017: Dubai Investments PJSC [DFM: DIC], the leading, diversified investment company listed on the Dubai Financial Market, has reported net profit of AED 350 million for the quarter ending September 30, 2017, an increase of 4.8% over AED 334 million achieved during the same quarter in the last year.

The company’s net profit for the first nine months of 2017 was AED 830 million, compared to AED 850 million for the same period in 2016. Total income during the period was AED 2.03 billion while total assets reached AED 16.73 billion as of the end of Q3 2017.  

As of September 30, 2017, Dubai Investments generated annualized return on equity of 9.47%. Earnings per Share was AED 0.20 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 AED 186 million in 2016, the Company’s net profit has in fact grown by AED 166 million. The increase in profit is attributable to increase in rental income by AED 36.8 million and corresponding increase in gain on fair valuation of investment properties by AED 126.6 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 monetize its land bank and deliver value to its shareholders.”