Saturday, January 19, 2019 10:31 PM

Home / Dubai Investments reports Dh1.1 billion net profit for 2015

Dubai Investments reports Dh1.1 billion net profit for 2015

Dubai Investments PJSC (DIC), a diversified investment company listed on the Dubai Financial Market, announced its net profit at Dh1.1 billion in 2015 - attributable to shareholders of the company and earnings per share of Dh0.27.

Excluding the previous year’s one-off profit of Dh472 million on the 66 per cent divestment of Globalpharma, this represents an increase of 27 per cent compared to Dh871 million net profits achieved in 2014. Return generated on average equity was 10.3 per cent.

The net profit for fourth quarter of 2015 was Dh357 million, a year-on-year increase of 2.7 per cent compared to Dh348 million for fourth quarter of 2014. Total assets rose by Dh1 billion to Dh15.5 billion as of December 31, 2015, an increase of 7 per cent compared to Dh14.5 billion at the end of 2014.

Khalid Bin Kalban, Managing Director and Chief Executive Officer of Dubai Investments, said, “We have once again delivered strong results against the backdrop of a challenging environment. This underpins the diverse nature and adaptability of our businesses which enable us to take advantage of varied opportunities that arises in the market from time to time.”

“As part of the Group strategy, we have now ventured into the healthcare and education sectors as these are areas which we believe will benefit from significant growth in the future. We have also tapped into promising markets across the GCC and Africa to further strengthen our position as a regional powerhouse,” Kalban added.

During 2015, Dubai Investments acted upon its plans to enhance its geographical footprint in Saudi Arabia by entering into a joint venture to develop Riyadh Investment Park, a project targeted at meeting the rising demands for warehousing and industrial real estate in the eastern part of Riyadh. Furthermore, it raised its stakes in Al Mal Capital and Emirates Float Glass, and made investments in King’s College Hospital Dubai and the Dubai campus of MODUL University. The Group also successfully divested its stakes in rubber companies held by its subsidiary Masharie, realising an impressive IRR of 18 per cent.