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Dubai Investments Q3 profit drops 33%

Dubai Investments Q3 profit drops 33%
Net profit totalled AED 200.67 million in the three-month period ended September
Dubai Investments
DIC
0.00% 2.29 0.00

Dubai – Mubasher: Dubai Investments, listed on the Dubai Financial Market (DFM), on Thursday reported a 33% year-on-year decline in net profit for the third quarter of 2018.

Net profit totalled AED 200.67 million in the three-month period ended September, versus AED 339.74 million in the prior-year period, the company added in a statement.

Total income reached AED 841.32 million in Q3-18, up from AED 749.208 million in the year-ago period.

Earnings per share (eps) stood at AED 0.05 at the end of September, compared to AED 0.08 in Q3-17.

In the first nine months of 2018, profits shrank to AED 669.019 million from AED 794.63 million in the same period a year earlier.

The company’s total income amounted to AED 2.41 billion in the nine-month period ended September, up from AED 2.032 billion in the year-ago period.

Revenues grew to AED 1.935 billion in the January-September period of this year from AED 1.59 billion in the corresponding period of 2017.

Meanwhile, total assets jumped to AED 19.44 billion, compared to AED 17.004 billion in the same nine-month period last year.

Dubai Investments previously posted a 32.4% year-on-year drop in net profit for Q2-18, recording AED 129.1 million, versus AED 190.9 million.

In the first half of 2018, profits increased by 2% to AED 491 million, compared to AED 479.9 million in H1-17.