Dubai, United Arab Emirates, May 7, 2018: Dubai Investments PJSC [DFM: DIC], the leading, diversified investments conglomerate listed on the Dubai Financial Market, announced strong Q1 2018 financial results.
- Net profit increased by 25% to AED 362 million as compared to AED 289 million for Q1 2017
- Total Income increased by 33% to AED 927 million as compared to AED 697 million for Q1 2017
- Earnings per share increased by 28% to AED 0.09/share as compared to AED 0.07/share for Q1 2017
- Total assets rose to AED 19.2 billion as compared to AED 17 billion as at 31st December 2017
- The annualized return on equity achieved for the period was 11.86%.
Khalid Bin Kalban, Managing Director and CEO of Dubai Investments, said: “Dubai Investments is pleased to announce strong Q1 results which has been driven by the strategic acquisition of additional 50% stake in Emirates District Cooling LLC (Emicool).”
Kalban added: “The Company has a strong pipeline of ongoing real estate developments such as Mirdif Hills and are also working on several other projects and transactions which will continue to enhance shareholder’s value.
These include launching a multi-asset class REIT expected to be listed on the local market, IPO of Emicool and establishment of the campus of University of Balamand in Dubai.
Further, the Group is also targeting investments in sectors related to financial services, education, healthcare and entertainment with a strategy of diversifying its asset base.”
The Company’s portfolio includes 35 subsidiaries and joint ventures across a diverse range of sectors and continues to seek new investment opportunities, locally and internationally, as part of its strategic roadmap.