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Dubai Investments' net profits up 47% in H1-21

Dubai Investments' net profits up 47% in H1-21
The company's income increased by 51% to AED 1.723 billion
Dubai Investments
DIC
0.44% 2.30 0.01

Dubai – Mubasher: The net profits attributable to the owners of Dubai Investments hiked by 47% to AED 302.068 million during the first half (H1) of 2021 from AED 205.002 million in the year-ago period, as shown by the company's consolidated interim financials for the six-month period ended 30 June 2021.

Higher net profits are driven by the enhanced performance of the manufacturing and contracting and investment segments.

The company's income increased by 51% to AED 1.723 billion in H1-21 from AED 1.137 billion in the same period of 2020.

The basic and diluted earnings per share (EPS) settled at AED 0.07 in the January-June period of 2021, versus AED 0.05 in the corresponding period of the earlier year.

The Vice-Chairman and CEO of Dubai Investments, Khalid bin Kalban, said: "As we move forward with our plans for the latter half of 2021, we expect to continue building on the momentum and successes achieved so far. Key amongst these is our commitment to diversifying into healthcare and education, as well as focus on real estate, including the ongoing development of mixed-use communities in Mirdif Hills and Fujairah."

It is noteworthy to mention that during the first quarter (Q1) of 2021, the company logged AED 123.8 million in net profits attributable to the company's owners, versus net losses of AED 6.8 million in the year-ago period.