Dubai Investments H1 Profits Surge By 47%
Mohammad Ali (@ChaudhryMAli88) Published August 05, 2021 | 12:30 PM
DUBAI, (UrduPoint / Pakistan Point News / WAM - 05th Aug, 2021) Dubai Investments on Thursday reported a 47 percent surge in net profits to AED302 million for the six months ended 30th June 2021 as compared to AED205 million for the same period last year.
The increase in net profit for the period is mainly due to enhanced performance of the manufacturing and contracting and investment segments, the company said in a statement on Thursday.
Total income for the period also increased by 51 percent to AED1.72 billion as compared to AED1.14 billion for the previous period as the Group ramped up sales in its property segment.
The Group acquired an additional 21.53 percent interest in National General Insurance PJSC (NGI) during the current reporting period. Subsequently, the Group has further acquired 15.19 percent interest in NGI, taking its total stake to 45.
18 percent.
Commenting on the financial results, Khalid bin Kalban, Vice Chairman and CEO of Dubai Investments, said, "We’re pleased to see that our activities in the first half of the year have led to all-around growth that is quite promising. As we move forward with our plans for the latter half of 2021, we expect to continue building on the momentum and successes achieved so far.
"Key amongst these is our commitment to diversifying into healthcare and education, as well as focus on real estate, including the ongoing development of mixed-use communities in Mirdif Hills and Fujairah. We also continue to explore opportunities for sustainable growth across the sectors that we operate in and look forward to sharing updates on these in due course."
Recent Stories
Shadab Khan honors mother, wife with PSL 9 medal, award
US urges Taliban to stop terrorist attacks on Pakistan from Afghan Soil
Nawaz Sharif decides to travel to KSA, London
New political party to emerge soon, says Shahhid Khaqan Abbasi
Islamabad United win hearts, expresses solidarity with Palestinians
Vivo Unveils the Future of Portrait Photography with the Premium and Elegant V30 ..
Infinix NOTE 40 series defies norms with the introduction of upto 20W MagCharge ..
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 19 March 2024
Today Gold Rate in Pakistan 19 March 2024
'Charter of economy is the need of the hour': Asif
14 bodies found in Haiti capital suburb amid gang violence
Punjab Chief Minister Maryam Nawaz Sharif announces metro bus projects in three ..
More Stories From Middle East
-
UAE announces ‘Zero Bureaucracy Program’ to reduce bureaucracy
2 months ago -
COP28 President-Designate welcomes Transitional Committee agreement to operationalise Loss and Damag ..
5 months ago -
Global Media Congress 2023 to feature Co-Production Majlis as a new networking platform
5 months ago -
Young female athletes shine at Abu Dhabi World Youth Jiu-Jitsu Championship
5 months ago -
King of Jordan receives Abdullah bin Zayed and ministers participating in Arab coordination meeting
5 months ago -
Abdullah bin Zayed participates in coordination meeting of Arab foreign ministers, joint meeting wit ..
5 months ago
-
3rd annual conference of Emirates Society of Clinical Microbiology kicks off in Dubai
5 months ago -
SIBF 2023 hosts Nobel laureate to discuss emergence of ‘Afrofuturism’ in global discourse
5 months ago -
ALC announces winners of Kanz Al Jeel Award 2023
5 months ago -
SIBF turns spotlight on remarkable contributions of women
5 months ago -
Global assets in spot bitcoin ETFs hit $4.16 billion
5 months ago -
Rescuers struggle to find Nepal quake survivors as deaths reach 157
5 months ago