Dubai Investments expected Q3 profit to drop to USD8.16m
26 Oct 2011
(MENAFN) Dubai Investments’ chief executive, Khalid Bin Kalban, said that due to provisions, the company’s expected profit in the third quarter would decline to USD8.16 million from USD58.14 million in 2010, reported Emirates 24/7.
Bin Kalban added that in the January-September period, profit would be forecasted to reach around USD73.5 million.
On the other hand, he said that the company would raise Masharie’s capital, Dubai Investments private equity unit, from USD163.3 million to USD272 million, awaiting the approval of its shareholders.
It is worth noting that Dubai Investments managed to secure USD190.6 million of a USD326 million the company plans to raise.