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FINANCIAL NEWS
Dubai’s ICD profit reaches USD 7.48bn
29 Jun 2016
(MENAFN) Investment Corporation of Dubai, or ICD posted a USD 7.48bn net profit for the year ended Dec 31, 2015.
Furthermore, ICD is the investment arm of the Gov’t of Dubai, which its net profit for the year totaled USD 7.48bn.
However, its revenues accounted for USD 48.28bn, a decline of 7.6 percent, due to the influence of lower oil prices on revenues at Emirates National Oil Co.
Additionally, gross profit reached USD 11.48bn, a growth of 19.8 percent, which was driven by lower unit costs at Emirates.
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