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Dubai Investments registers AED 459m in 9M

Dubai Investments registers AED 459m in 9M
Total income came at AED 2.12 billion in 9M
Dubai Investments
DIC
0.44% 2.30 0.01

Dubai – Mubasher: The profit attributed to the owners of Dubai Investments plunged to AED 105.491 million during the third quarter of 2019, compared to AED 233.290 million in the corresponding quarter in 2018, the financial statements revealed.      

Earnings per share (EPS) fell to 0.03 fils during Q3-19, lower than 0.05 fils over the third quarter in 2018, according to a bourse filing on Thursday.

During the first nine-month period in 2019, the company recorded a profit worth AED 458.734 million, down from AED 724.334 million a year earlier.  

Meanwhile, total income stood at AED 2.12 billion, while the annualised return on equity for the period was 5.13%.

In this regard, Dubai Investments’ managing director and CEO, Khalid Bin Kalban, said, “Dubai Investments “Dubai Investments has been consistent in generating strong operational results and the trend has continued for this year as well. Excluding the one-off gain from M&A transactions and gain on fair valuation of investment properties, the Company’s net profit has in fact grown by AED 104 million.”

He added, “We are focused on delivery of our real estate developments which will enable us to monetise these assets and progress with our strategy to build a diversified investment portfolio capable of delivering sustainable returns to our stakeholders.”

It is worth noting that during the first half of 2019, Dubai Investments’ profit stood at AED 353 million, compared to AED 491 million in H1-18.