Dubai Investments expects 2013 profit of over $217.8m

The expected profit in 2013 presents a 149.5 percent increase from $87.2m in 2012

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Dubai Investments expects to make a profit of around 800 million dirhams ($217.8m) 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 $217.8m at the end of 2013, a 149.5 percent increase over the $87.2m 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.

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