Dubai Investments returns to profit as economy improves

Dubai Investments returns to profit as economy improves

Dubai Investments, a Dubai-listed investment holding company, swung to a profit in the first quarter as income from its manufacturing, services and investment portfolio grew amid a continued economic recovery.

Net profit for the three months ending March 30 climbed to Dh123.8 million from a loss of Dh6.8m in the same period last year, the company said in a statement on Sunday.

“The results … highlight the strong performance and resilience of our business model during what continues to be a challenging time for our region and the world,” Dubai Investments vice chairman and chief executive, Khalid Bin Kalban, said.