Dubai Investments reports net profit of AED459 million for 9 month period ended September 30

DUBAI, Dubai Investments has announced that it reported net profit of AED459 million for the period ending 30th September compared to AED724 million for the same period last year. These profits include exceptional items related to gains on M&A transactions of AED64 million and AED333 million for the respective periods and results without considering these are quite comparable.

Total income during the period was AED2.12 billion while total assets reached AED20.64 billion as at the end of Q3 2019. The annualised return on equity for the period was 5.13%.

Commenting on the announcement, Khalid Bin Kalban, Managing Director and CEO of Dubai Investments, said, “Dubai Investments has been consistent in generating strong operational results and the trend has continued for this year as well. Excluding the one-off gain from M&A transactions and gain on fair valuation of investment properties, the Company’s net profit has in fact grown by AED104 million.”

He added, “We are focused on delivery of our real estate developments which will enable us to monetise these assets and progress with our strategy to build a diversified investment portfolio capable of delivering sustainable returns to our stakeholders.”

Source: Emirates News Agency