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FINANCIAL NEWS
Dubai Investments posts USD43m profit in Q2
02 Aug 2013
(MENAFN) Dubai Investments reported more than double quarterly earnings, as it booked gains in the value of its investments, Reuters reported.
The company said it made USD43.2 million net profit during the second quarter, up from USD17.3 million a year earlier.
Dubai Investments, in which sovereign fund Investment Corporation of Dubai (ICD) owns an 11.5 percent stake, booked a gain of USD6.6 million on fair valuation of investments against a loss of USD4.06 million in the prior-year period.
The company unveiled plans for USD300 million sukuk issue is in progress and will be in the market in the coming quarter.
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