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FINANCIAL NEWS
Dubai Investments profit doubles in H1
04 Aug 2014
(MENAFN) Net profit of Dubai Investments reached a record high in the first half of the current year due to gains from the divestment of one of its assets, according to Arabian Business.
The company said that its net profit was estimated at USD219.2 million in the first half compared to USD100.70 million in the same half in 2013.
In May, Dubai Investments divested a 66 percent equity stake in its wholly-owned pharmaceutical unit Globalpharma to an investor group led by French drugmaker Sanofi.
This contributed a profit of USD128.46 million for the first-half period, the statement added.
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