Dubai Investments today announced unaudited, preliminary net profit of AED1.341 billion for 2014, a 63 percent increase compared to AED822.32 million net profit achieved in 2013.
The DI Board of Directors has recommended a 12 percent cash dividend and six percent in bonus shares to the shareholders.
The Net Operating Profit for 2014 was AED1.81 billion, an increase of 42% compared to AED1.27 billion achieved in the previous year, and total assets as on December 31st, 2014, surged to AED14.43 billion as against AED12.62 billion in 2013.
Total revenue for the year was AED3.19 billion, as against AED2.84 billion in 2013. The Earning Per Share also surged to AED0.35, compared to AED0.22 in 2013. The net profit in the fourth quarter of 2014 was AED346.79 million, an increase of 18.8 percent compared to AED291.74 million in the fourth quarter of 2013.
Khalid bin Kalban, Managing Director and CEO of Dubai Investments, said, “2014 was a year of sustained growth at Dubai Investments. During the year, we successfully issued a 5-year Sukuk of US$300 million, divested controlling interest in Globalpharma LLC, and divested Phase 8 of the Dubai Investment Park Development Company’s warehouse project. These activities have resulted in significant improvement in the group’s liquidity position.” DI also announced the launch of various key projects such as Mirdif Hills, Fujairah Business Centre, and Green Community Phase III during the year, and DI owns nearly 37 subsidiaries and joint ventures across a diverse range of sectors including manufacturing of construction-related materials, fast moving consumer goods, industrial and commercial properties, real estate management and property development, information technology solutions, driver education, district cooling and financial investments.
Source : WAM News Agency for United Arab Emirates
