Dubai Investments Reports Net Profit of Dh205 Million for the Six Month Period Ended June 30, 2020
Dubai Investments PJSC [DFM: DIC], the leading, diversified Investment company listed on the Dubai Financial Market, has reported net profit of AED 205 million for the period ending June 30, 2020, compared to AED 353 million for the same period last year.
The drop in net profit is mainly attributable to a one-off gain on an acquisition transaction in prior period and the impact of COVID-19.
Khalid Bin Kalban, Vice Chairman and CEO of Dubai Investments, said, “The results for the first half of the year is an indication of our resilience in these unprecedented and taxing times. Dubai Investments strategy of diversification coupled with a robust business model have been instrumental in successfully facing down the challenges raised by the spread of COVID-19 pandemic. We have been carefully reviewing our cost structure with an eye on optimization whilst continuing with our efforts aimed at sustained long-term growth. The Group is focused on being adaptable and flexible in the current environment and is geared up to take advantage of opportunities that come our way.”
Dubai Investments PJSC is a leading public joint stock company listed on the Dubai Financial Market with over 16,771 shareholders and a paid-up capital of AED 4 billion. Incorporated in 1995, the Company has grown exponentially with investments in a number of businesses across a number of sectors, ranging from real estate, processing industries, mergers and acquisitions, healthcare, education to financial investments in the UAE and the Middle East. Dubai Investments continues to create positive economic impact and long-term value for its stakeholders by investing in sustainable, growth sectors in markets across the globe.