posted on 01/05/2015: 1726 views
Dubai Investments, DI, has recorded a net profit of Dh282 million for the first quarter of 2015, an increase of 6.5 per cent compared to Dh265 million for the same period last year.
The total assets of the company also rose in Q12015 to Dh14.67 billion, compared to Dh13.2 billion as on March 31st, 2014, while the consolidated total income was Dh543 million, as against Dh738 million in the corresponding period last year, DI said in a statement yesterday.
The company's net worth grew to Dh10.39 billion, compared to Dh9.3 billion at the end of Q1 2014 and the annualised return on equity achieved for the period was 10.8%.
"Dubai Investments continues to leverage on its diversified business model to record consistent growth in its net profit and assets. The company's real estate and manufacturing businesses have witnessed positive trends, and both the sectors are expected to continue the growth trajectory through the year. 2015 is a very active year for Dubai Investments and will witness a number of project announcements across its portfolio," said Khalid bin Kalban, Managing Director and Chief Executive Officer, DI.
The company has consolidated its position in the glass sector by acquiring additional 20.15% interest in Emirates Float Glass LLC., increasing its ownership to 87.43%. – Emirates News Agency, WAM –
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