The biggest investment company on the Dubai Financial Market, Dubai Investments PJSC, announced a net profit of AED 963 Million as the preliminary results for last year 2009. Dubai Investments reported a consolidated total income of Dhs3.67 Billion for the full year 2009. The net profit for the fourth quarter of 2009 alone was AED 141 Million, compared to a loss of AED 87 Million during the same period in 2008. Dubai Investment’s total assets as of December 31st of 2009 increased to AED 15.14 Billion, the net worth increased to AED 7.92 Billion. The company had a return on share capital of 27% during last year.
“We are pleased with the results achieved for 2009; the results have been above our expectations, given the challenging market conditions that prevailed throughout the year. Dubai Investments has been able to maintain its track record of delivering consistently strong results despite a decline in revenue due to the downturn in the real estate sector.” stated Khalid Kalban, the Managing Director and CEO of Dubai Investments.
He also said “Dubai Investments strong performance was primarily due to its diversified investment base, with revenues coming from three main sources – industrial ventures, financial investments and real estate. Dubai Investment PJSC is now in a strong liquidity position, and the fundamentals of our business continue to remain solid.” “With the global economy gradually recovering, we expect to post improved results in 2010, and are planning to invest Dhs500m over the course of the year, which would include investment in new projects as well as the expansion of existing ventures,” Kalban added.
