As of 30th June 2021, Dubai Investments reported an increase of 47 percent in net profit to AED302 million, compared with AED205 million of the previous year.
The company said in a statement on Thursday that its net profit increased due to better performance in the manufacturing, contracting, and investment segments.
Additionally, its total income for the period increased by 51 percent to AED1.72 billion from AED1.14 billion for the previous period, as sales in its property segment increased.
National General Insurance Public Joint Stock Company (NGI) was acquired by the Group for an additional 21.53 percent interest during the current quarter. Following this acquisition, the Group has further bought 15.19 percent of NGI for a total stake of 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.”