Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Dubai Investments net profit surges 26% in Q1  Join our daily free Newsletter

MENAFN - Khaleej Times - 05/05/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Dubai investments net profit surges 26% in q1total income stands at dh738m total assets rise to dh13.

dubai investments (di) on sunday said its 2014 first-quarter net profit surged 26 per cent to dh265 million from dh211 million in the same period last year.

in a statement the leading investment company listed on the dubai financial market reported a consolidated total income of dh738 million as against dh649 million in the similar period last year.

“we are delighted with the results in the first quarter of 2014. while all our businesses have contributed we have seen significant growth trends in our real estate and manufacturing portfolio. this comes amidst surging investor confidence across the uae and region and encouraging trends for our diversified businesses” khalid bin kalban managing director and chief executive officer dubai investments said.

the company said its total assets amounted to dh13.2 billion compared to dh12.5 billion as on march 31 2013. di’s net worth increased to dh9.3 billion as against dh8.7 billion at the end of first quarter of 2013. the annualised return on equity achieved for the period was 11.4 per cent compared to 9.7 per cent in the comparable period last year.

“subsequent to the highly successful issue of 300 million sukuk by duai investments park development company a subsidiary of the group and increase in cash generated from group’s operations the liquidity position has improved significantly and the group is having available cash balances of more than dh1 billion. this enhanced liquidity will enable di to take advantage of market opportunities and several projects are under consideration. we have a strong thrust in developing our real estate business riding on the crest of the wave of the current upswing in the sector” kalban said.

incorporated in 1995 dubai investments has over 19894 shareholders and paid-up capital of dh3.5 billion.

the company owns around 40 subsidiaries and joint ventures and works in manufacturing financial investments real estate development and mergers and acquisitions. the portfolio comprises of six large investment units — glass llc dubai investments industries masharie company dubai investment park di real estate company and al taif investment.

“we are excited about the outlook for the rest of 2014 due to improved performance of our underlying entities operating across all sectors. further we are edging towards completion of a divestment transaction which will significantly contribute to the group’s profitability” kalban concluded.

muzaffarrizvi?khaleejtimes.com


 


Khaleej Times




  MENA News Headlines
 Feb 7 2016 - Egypt- Shawkan's trial 'one outrage after the other': CPJDaily News Egypt
(MENAFN - Daily News Egypt) The Committee to Protect Journalists (CPJ) expressed deep concern over the prolonged trial of detained photojournalist Mahmoud Abu Zeid "Shawkan" in a Friday statement. ...

 Feb 7 2016 - Army kills 10 alleged militants in Sinai, overtakes control of underground tunnelDaily News Egypt
(MENAFN - Daily News Egypt) The Egyptian Army said Friday that it killed ten militants in Sinai, injured 13, and arrested six as part of raids in the area, according to a statement from the military ...

 Feb 7 2016 - Student Giulio Regeni's body repatriated to ItalyDaily News Egypt
(MENAFN - Daily News Egypt) The body of Cambridge PhD student Giulio Regeni, who was found dead in Cairo last week, has been repatriated to Italy where Regeni was a citizen.The investigations into ...

 Feb 7 2016 - Political instability hinders US plans to fight IS in LibyaDaily News Egypt
(MENAFN - Daily News Egypt) It has been reported that US officials see the continued political instability that has prevented the formation of a Libyan national unity government strong enough to ...

 Feb 7 2016 - DRC PM pledges support for Egyptian grievances in GERD dispute amid countries' economic alignmentDaily News Egypt
(MENAFN - Daily News Egypt) Democratic Republic of the Congo Prime Minister Augustin Matata Ponyo and Egyptian Prime Minster Sherif Ismail presided over the signing of several memorandums of ...

 Feb 7 2016 - Al-Sisi inaugurates housing, infrastructure projects across EgyptDaily News Egypt
(MENAFN - Daily News Egypt) President Abdel Fattah Al-Sisi inaugurated Saturday a number of developmental projects, including housing, infrastructure and health projects, in different governorates ...

 Feb 7 2016 - Individuals filmed selling parts of Great Pyramids arrestedDaily News Egypt
(MENAFN - Daily News Egypt) Tourism police arrested Saturday three men caught on film selling parts of the Great Pyramids to customers abroad.According to the Ministry of Interior, the three men ...

 Feb 7 2016 - Egypt- Doctors Syndicate to vote on general strike on 12 FebruaryDaily News Egypt
(MENAFN - Daily News Egypt) Head of Doctors Syndicate Hassan Khairy and Deputy Head Mona Mina were summoned Saturday by the East Cairo Prosecution over a report they had filed to the Prosecutor ...

 Feb 7 2016 - Tens commemorate Italian student's deathDaily News Egypt
(MENAFN - Daily News Egypt) Approximately 60 activists gathered Saturday in front of the Italian embassy in Garden City to commemorate the life of the University of Cambridge PhD candidate and ...

 Feb 7 2016 - Tens of thousands of Syrians fled their homes near Aleppo after continuous Russian air strikesDaily News Egypt
(MENAFN - Daily News Egypt) Tens of thousands of Syrians fled their homes Friday due to continuous Russian air strikes near the Syrian city of Aleppo.The regime's attack around Aleppo ruined the ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help