Dubai – Mubasher: Leading investment company listed on the Dubai Financial Market (DFM), Dubai Investments [DI] announced today its unaudited preliminary net profit for FY14, reaching AED 1.341 billion, marking a 63% profit surge compared to AED 822.32 million net profit achieved in 2013.

Net profit for Q4-14 rose by 18.8% to AED 346.79 million compared to AED 291.74 million in the corresponding period of 2013.

Moreover, the DI Board of Directors has recommended 12% cash dividend and 6% in bonus shares to the shareholders, the statement highlighted.

Net operating profit for 2014 stood at AED 1.81 billion, registering a 42% increase compared to AED 1.27 billion achieved in the previous year. Total revenue for the year reached AED 3.19 billion, as against AED 2.84 billion in 2013.

Earnings per share (EPS) also surged to AED 0.35, compared to AED 0.22 in 2013.

Total assets as at December 31, 2014 surged to AED 14.43 billion against AED 12.62 billion in 2013.

Commenting on the Company’s financials, DI Managing Director and CEO Khalid Bin Kalban said: “2014 was a year of sustained growth at Dubai Investments. During the year, we successfully issued a 5-year Sukuk of $300 million, divested controlling interest in Globalpharma LLC, and divested Phase 8 of the Dubai Investment Park Development Company’s warehouse project. These activities have resulted in significant improvement in Group’s liquidity position. We are currently evaluating various investment proposals and are in advanced stages of negotiations for couple of investments, which are likely to be finalized in Q1-15. Our sustained focus on delivering value, coupled with upbeat sentiment across various sectors of the UAE economy, has helped us move aggressively forward. We expect this growth momentum to continue in 2015.”

Worth noting, DI also announced the launch of various key projects such as Mirdif Hills, Fujairah Business Centre, and Green Community Phase III during the year.