Dubai Investments PJSC reports profit of Dh171 million for in H1 of 2012

Dubai Investments PJSC ("DI"), the largest investment company listed on the Dubai Financial Market, yesterday announced its financial results for the six month period ended 30 June 2012. DI reported another quarter of strong results with profits of Dh171 million for the period and total income at Dh1.26 billion. Total assets as on 30 June 2012 amount to Dh13.6 billion while total liabilities amount to Dh4.6 billion. Net worth of the company stands at Dh9.0 billion and the annualised return on share capital achieved for the period was 9.6 per cent. Khalid Bin Kalban, Managing Director and CEO, Dubai Investments, said: "The year 2012 has been promising and there has been renewed investment activity in the region which is a sign of economic growth. The tourism sector has been on the upswing for sometime and now the local real estate market is also picking up. All these factors have contributed to the Group's sustained performance." "Moving forward, we are targeting exits from selected investments which are expected to further contribute to the Group's profitability. We will continue to explore opportunities in strategically promising businesses in existing and new geographical locations to consolidate our position as an important player in the region while providing significant returns in the future" Kalban added. – Emirates News Agency, WAM