Dubai Investments reports net profit of Dh364 million in H1

Dubai Investments reports net profit of Dh364 million in H1

The growth in the profit by Dh62.01 million attributed to the continued strong performance of the group’s manufacturing, contracting and services segment

Total assets for the group remained stable at Dh22 billion while total equity increased to Dh12.1 billion from D11.98 billion during the same period last year. — File photo

By Staff Report Published: Thu 11 Aug 2022, 8:24 PM

Dubai Investments has reported a 20.5 per cent rise in net profits to Dh364 million for the six-month period ended June 30, 2022, as compared to Dh302 million in the same period last year.

In a statement on Thursday, the leading, diversified investment company listed on the Dubai Financial Market (DFM) said the growth in the profit by Dh62.01 million is mainly driven by the continued strong performance of the group’s manufacturing, contracting and services segment.

Total assets for the group remained stable at Dh22 billion while total equity increased to Dh12.1 billion from D11.98 billion during the same period last year.

The group has completed divestment of 50 per cent equity interest in Emirates District Cooling (Emicool) LLC and will recognise the resultant gain on disposal and fair valuation gain on retained interest amounting to Dh980.4 million in thirds quarter of 2022.

“We are already