Dubai Investments Q4 net profit drops 36 percent

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CORONAVIRUS IMPACT

Dubai Investments PJSC (“DI”), an investment company with diversified interests in high growth segments, today announced its preliminary unaudited financial results for the year ended December 2010, with a net profit of Dh805 million.

Revenues for the year were Dh3.3 billion while total assets increased to Dh14.1 billion. At the same time, shareholders equity rose to Dh8.5 billion with earnings per share (EPS) at Dh0.23.

Khalid Kalban, Managing Director and CEO of Dubai Investments PJSC, said: “We have seen growth in the industrial and manufacturing sector in line with the moderate recovery underway in the economy. The real estate and contracting activities saw a decline in the current year and our exposure in the local equities was affected by market sentiment.”

“The Company has been able to consistently deliver good results even in this challenging environment as we adapted well to the changing circumstances by looking beyond our traditional markets”.

“We believe 2011 will prove more rewarding as momentum for growth consolidates further across the globe. At the same time, we will continue to work towards optimising returns and reducing costs as we explore fresh growth potentials within our group and across various geographies,” Kalban added.

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