Net profits of Dubai Investments for first quarter of 2005 more than doubles

Dubai Investments Group have announced a net profit of AED 54 million for the first quarter of 2005, ended March 31. This marks an impressive 145 per cent increase in net profits, compared to the same period last year, when the Group achieved net profit of AED 22 million.

Dubai Investments achieved a total income of AED 226 million for the first quarter this year, which is a 98 per cent rise over the AED 114 million figure for the same period in 2004. The Group’s Annualised Return on Equity has jumped to 31.1 per cent compared to 12 per cent last year.

Further, the total assets of Dubai Investments PJSC as on March 31, 2005 stood at AED 2.4 billion, which is an increase of AED 116 million, compared to total assets of AED 2.2 billion as on December 31, 2004.

Commenting on the achievement, Khalid Bin Kalban, Managing Director and Chief Executive Officer, Dubai Investments said, “This remarkable performance is the result of our committed and sustained effort to provide the best facilities and services to large number of companies and stakeholders. We will continue with our strategy of growth and expansion during the coming months as we attract leading companies from around the region to invest with us.”

“We are constantly expanding to include new fields and industries within our fold.  Looking ahead, we expect to attain increased levels of profit in the forthcoming quarters and this will help us to strengthen our position in the region,” added Kalban.