Dubai Investments reports a net profit of AED 253 million for first quarter 2006
Dubai Investments PJSC (“DI”) reported exceptional results for the quarter ended 31 March 2006 (‘the Period”), with consolidated total income of AED 460 million, which is 103% more than the total income of AED 227 million for the quarter ended 31 March 2005 (“same period last year”). The net profit for the period was AED 253 million, which is 360% more than the net profit of AED 55 million for the same period last year. These exceptional results were the product of excellent performances by group entities.
Annualised return on average equity (“ROE”) is expected to be 43% as compared to 48% for the year ended 31 December 2005. DI is expected to almost hold for the year 2006, the ROE achieved in 2005 inspite of the capital being doubled, as a result of the recent rights issue.
Total assets have increased to AED 4.5 billion, a growth of 88% over the total assets of AED 2.4 billion for same period last year.
Total Shareholders’ Equity has increased to AED 2.89 billion, a growth of 156% over the Total Shareholders’ Equity of AED 1.13 billion for the same period last year. The increase in Total Shareholders’ Equity is mainly on account of substantial net profit achieved and an increase in capital of AED 858 million as a result of rights issue during the Period.
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