Dubai – UAE: 2 May, 2011 - Dubai Investments PJSC (“DI”), the
largest investment company listed on the Dubai Financial Market, today
announced its financial results for the first quarter ended 31 March 2011
DI reported profit of AED 101 million for the Period as compared to
AED 278 million for the comparable period last year. Consolidated total
income for the Period was AED 643 million as against AED 859 million
for the comparable period last year. Total assets as of 31 March 2011
stands at AED 14 billion, while net worth increased to AED 8.6 billion.
The annualized return on share capital achieved for the Period is 11.3%.
The decline in profit as compared to previous period is mainly due to
lower fair valuation gain on investment properties. For the Period, Group
recorded a fair valuation gain of AED 33 million as compared to AED 177
million for the comparable period last year.
Khalid Kalban, Managing Director and Chief Executive Officer of Dubai
Investments, said: “The Group continues to have strong capitalization
with asset base of AED 14 billion and equity of AED 8.5 billion. The
low leverage structure has provided tremendous operational flexibility,
and has allowed the company to respond quickly to changing market
conditions during difficult times.
“The current political situation in MENA and the slow recovery in the
UAE real estate sector are significant challenges. The Group is, however,
expanding capacities in industrial and manufacturing sectors and making
entry into new markets. Further, we are closely monitoring the market
for an appropriate opportunity to enhance and make additions to our
existing investment base.”
About Dubai Investments:
Dubai Investments PJSC (DI) is a world-class company that invests in viable and profitable
entities. With over 20,229 shareholders, and paid-up capital of AED 3.3 billion, it is the largest
investment company listed on Dubai Financial Market.
Dubai Investments PJSC was incorporated in 1995, with the primary objective of investing in
companies and projects.established
including manufacturing, food and related fast moving consumer goods, wholesale and retail
trade representation, healthcare and pharmaceuticals, industrial and commercial properties,
real estate management and property development, transportation, shipping, distribution and
logistics, marketing and sales, publishing and telecommunications.
DI’s mission is to add value and to grow its investment portfolio through active strategic
stewardship, financial engineering and leveraging its corporate brand, business promotion
capabilities, network of relationships, and financial resources.