Dubai Investments PJSC [DI], the leading investment Company listed on the Dubai Financial Market [DFM], yesterday announced net profit of Dh 506 million for the six months period ended 30th June 2015 ("the current period") as compared to Dh 806 million for the same period last year.
Total assets as at June 30, 2015 increased to Dh 14.77 billion, while net worth increased to Dh 10.14 billion. The annualised return on equity achieved for the period was 10%.
Khalid bin Kalban, Managing Director and CEO, Dubai Investments PJSC, said, "In the previous year, DI had made a profit amounting to Dh 472 million on divestment of Globalpharma including fair value gain on retained interest. Excluding this one-off item, the profit for the current period has increased by Dh 172 million on account of growth and better operating results across industrial and property segments of the Group".
The year 2015 continues to be an active year for DI. During the current period, DI completed acquisition of 59.66% stake in Al Mal Capital PSC and increased its shareholding in certain subsidiaries and joint ventures. DI also divested its interest in International Rubber Company and Techno Rubber Company. These acquisitions and divestments are integral to the Group's strategy of delivering enhanced value to its shareholders.
Kalban added, "We are quite positive on the outlook for the remainder of the year and are exploring fresh avenues to expand our geographical footprint and strengthen our assets. To this end, we are evaluating several proposals spanning sectors across healthcare, education, industrial and property."