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
 Dec 4 2016 - First Bloomberg Markets Most Influential Summit Abu Dhabi to Convene the Leaders and Innovators in Finance Shaping the Future of InvestingMENAFN Press
(MENAFN Press) The Bloomberg Markets Most Influential Summit will make its Middle Eastern debut in Abu Dhabi this week, convening global financial leaders and investors who are moving markets, ...

 Dec 4 2016 - Farid Chedid Chairman and CEO of Chedid Re named ‘MEA Industry Achiever of the Year’ at the 2016 MEA Risk & Insurance Excellence AwardsMENAFN Press
(MENAFN Press) Beirut, Lebanon, December 4, 2016 : (ME NewsWire) During a special honoring ceremony held at the Four Seasons Hotel in Dubai, the publishers of Global Reinsurance and StrategicRISK ...

 Dec 4 2016 - Saudi, Qatari, UAE, Turkish Joint Statement on Calling to Hold UN General Assembly Formal Plenary Session on Syria 3 United NationsSaudi Press Agency
(MENAFN - Saudi Press Agency) The statement added that "We have seen in recent weeks, the launching of heavy unleashed military aggression against Aleppo and its neighboring areas with severe ...

 Dec 4 2016 - Saudi- Kingdom succeeds in shrimp farming: Global Magazine saysSaudi Press Agency
(MENAFN - Saudi Press Agency) Riyadh, 05 Rabi'I, 1438,December 04, 2016, SPA -- Global Aquaculture Advocate magazine confirmed in its latest issue in a report entitled "Kingdom of Saudi Arabia ...

 Dec 4 2016 -  Vietnamese floods kill 13Saudi Press Agency
(MENAFN - Saudi Press Agency) Hanoi, Rabi'I 5, 1438, Dec 4, 2016, SPA -- At least 13 people have been reported dead in central Vietnam's most recent spate of floodings, according to dpa. The ...

 Dec 4 2016 - Saudi Ambassador to Egypt: Kingdom Tops World in Supporting Refugees 2 CairoSaudi Press Agency
(MENAFN - Saudi Press Agency) Ambassador Qattan also said that the Kingdom considered the brotherly Yemeni refugees on its territory as its visitors, and provided more than half a million Yemeni a ...

 Dec 4 2016 - Al Watan Daily Highlights Depth of Fraternal Relations between Qatar and Saudi ArabiaQatar News Agency
(MENAFN - Qatar News Agency) Doha, December 04 (QNA) - Qatari daily (Al Watan) confirmed in its editorial Sunday the depth of the fraternal relations and cooperation between the State of Qatar and ...

 Dec 4 2016 - Nepalese Foreign Minister Meets Qatar's AmbassadorQatar News Agency
(MENAFN - Qatar News Agency) Kathmandu, December 04 (QNA) - Foreign Minister of the Federal Democratic Republic of Nepal Dr. Prakash Sharan Mahat has met with HE Qatar's Ambassador to Nepal Yousef ...

 Dec 4 2016 -  South Korea, US Seek Ways to Counter North Korea's Submarine-Launched Ballistic threatQatar News Agency
(MENAFN - Qatar News Agency) Seoul, December 04 (QNA) - South Korea and US forces are stepping up efforts to better counter the growing threat from North Korea's submarine-launched ballistic missiles ...

 Dec 4 2016 -  Five Gunmen, Including ISIS Leader, Killed in DagestanQatar News Agency
(MENAFN - Qatar News Agency) Moscow, December 04 (QNA) - Five militants, including an ISIS leader, have been killed during a special operation held in a suburb of Makhachkala, the capital of Russia's ...

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

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