Dubai Investments reports a net profit of AED 544 million for first half of 2006,
Dubai Investments PJSC (“DI”) reported exceptional results for the half year ended 30 June 2006 (‘the Period”), with consolidated total income of AED 978 million, which is 54% more than the total income of AED 637 million for the half year ended 30 June 2005 (“same period last year”). The net profit for the period was AED 544 million, which is 115% more than the net profit of AED 253 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 40% 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 5.2 billion, a growth of 93% over the total assets of AED 2.7 billion for same period last year.
Total Shareholders’ Equity has increased to AED 3.2 billion, a growth of 146% over the Total Shareholders’ Equity of AED 1.3 billion for the same period last year 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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