DIC 2009Q1 profit AED269m -45%

[sharewadi]

Dubai Investment (DIC) profit in 2008 first quarter was AED 490m (DIC 2008 Q1 profit) so AED 269m for 09Q1 is a drop of 45%. Perhaps not too bad under the circumstances ...

Press Release 03 May 2009:

Dubai Investments reports net profit of AED 269 million for the three months ended 31 March 2009 Dubai – UAE: Dubai Investments PJSC (DIC) reported net profit of AED 269 million for the three months ended 31 March 2009 with consolidated total income of AED 831 million. Total assets as at 31 March 2009 have increased to AED 14.36 billion, a growth of 25 per cent over the total assets of AED 11.47 billion as at 31 March 2008. Net Worth as at 31 March 2009 increased to AED 7.53 billion, a growth of 39 per cent over the Net Worth of AED 5.42 billion as at 31 March 2008. The annualized return on Share Capital achieved for the Period is 33%. “Dubai Investments has maintained its track record of good results even in these difficult times” said Khalid Bin Kalban, Managing Director and CEO of Dubai Investments. “These results exceeded our expectations and we anticipate the positive trend to continue in the future. We are now targeting new geographical markets to generate additional revenue streams which would enable us to absorb some of the effects of the downturn”

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