Dubai Investments Reports 42% Drop In Half Yearly Profits

Dubai Investments has reported a 42 percent drop in net profit for first six months of the year, compared to H1 2019, blamed largely on the impact of the global coronavirus pandemic and a “one-off gain on an acquisition transaction” for the previous period.

The investment outfit, which boasts over 16,400 shareholders and has a share capital of AED4.25 billion ($1.2bn), saw profits decrease from AED353 million ($96.1m) to AED205m ($55.8m).

Khalid Bin Kalban, vice chairman and CEO of Dubai Investments, said: “We have been carefully reviewing our cost structure with an eye on optimisation whilst continuing with our efforts aimed at sustained long-term growth.

“The group is focused on being adaptable and flexible in the current environment and is geared up to take advantage of opportunities that come our way.”

Listed on the Dubai Financial Market (DFM) since 2000, the company has investments in diversified sectors and markets across the globe, including real estate, industrial, finance, healthcare and education, among others.