Dubal Holding net yearly profit down by half

Dubal Holding net yearly profit down by half

Dubal Holding, the investment company owned by the Dubai government, has announced a 50 percent drop in net profit for 2023 compared to the previous year. Dubal Holding, which invests in the commodities, mining, power, energy and industrial sectors, recorded a net profit of AED 1.79 billion ($487 million) for 2023, down from the previous […]

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Dubal Holding, the investment company owned by the Dubai government, has announced a 50 percent drop in net profit for 2023 compared to the previous year.

Dubal Holding, which invests in the commodities, mining, power, energy and industrial sectors, recorded a net profit of AED 1.79 billion ($487 million) for 2023, down from the previous year’s figure of AED 3.7 billion.

The company said it had made international acquisitions, including an investment in the aluminium industry, to grow its aluminium portfolio.

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Dubal Extrusion Investment, a Dubal Holding subsidiary, completed the acquisition of Thermalex, a US aluminium extrusion company specialising in aluminium multiport extruded tubes.

Dubal Holding also increased to 60 percent its ownership of OSE,