Dubai Investments PJSC reports profit of AED 688 million for the nine-month period ended 30th September 2010
Dubai Investments PJSC ("DI"), the largest investment company listed on the Dubai Financial Market, today announced its financial results for the nine-month period ended 30th September 2010 ("the Period").
DI yet again reported strong results with net profit of AED 688 million (US$187.5 million) for the Period and total income at AED 2.5 billion. The annualized return on share capital achieved for the Period is 26%. As a strong indicator of performance and encouraging future outlook, the Company liabilities as at 30th September 2010 stand only at AED 4.89 billion, while current assets alone amounts to AED 5.48 billion. This means that current assets of the Company are more than sufficient to meet all liabilities. The Company is well capitalized with equity of AED 9.1 billion over an asset base of AED 13.99 billion and a leverage ratio of less than 25%. Due to its low leveraged structure, DI has been able to maintain its strong market position and achieve consistent good results even in difficult times.
"We delivered another good quarter and expect to continue the momentum for the year end. Market conditions gradually continue to improve and positive developments specifically in UAE and GCC provide promising outlook for the future. DI's primary focus continues to remain on effective management of liquidity and exploring new markets in the GCC and beyond", said Khalid Bin Kalban, Managing Director and CEO of Dubai Investments PJSC.
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