Dubai Investments sees over AED800m profit

Dubai investments expects to make a profit of around 800 million dirhams ($217.8 million) in 2013, a company statement said on Thursday, confirming local media reports.

Khalid bin Kalban, the company’s chief executive, had told Al Khaleej newspaper that the net profit would be over 800 million dirhams at the end of 2013, a 149.5 percent increase over the 320.6 million dirhams of profit posted in 2012.

The state-owned conglomerate, in which sovereign fund Investment Corporation of Dubai own a 11.5 percent stake, has interests in several sectors including property and manufacturing.-Reuters

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