Dubai Investments reports un-audited net profit of AED 991 million for 2006, a growth of 45% over last year

Dubai Investments PJSC (“DI”) reported exceptional un-audited results for the year 2006, with a consolidated total income of AED 2.07 billion, which is 34 per cent more than the total income of AED 1.54 billion achieved last year. The net profit for the period was AED 991 million, which is 45 per cent more than the net profit of AED 684 million reported last year.

The Return on average equity (“ROE”) is estimated at 37 per cent p.a, while the total assets have increased to AED 6.37 billion, a growth of 98 per cent over the total assets of AED 3.21 billion last year.

Khalid Kalban, Managing Director and Chief Executive Officer, Dubai Investments, said, “These exceptional results were the product of excellent performances by group entities. The year 2006 was undoubtedly a remarkable year for Dubai Investments as we strategically expanded and diversified our business interests. Among key achievements of 2006 were the setting up of our real estate arm Dubai Investments Real Estate Company and the launch of Glass LLC, the region’s first glass holding company. We are focused on carrying forward the momentum into 2007 as we gear up for an even more successful year.”

Dubai Investments also announced that the Total Shareholders’ Equity has increased to AED 3.61 billion, a growth of 103 per cent over the Total Shareholders’ Equity of AED 1.78 billion 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 year.