Dubai Investments sees first-half 2020 net profit drop to Dh205m

Dubai: Dubai Investments recorded Dh205 million in net profits for the first six months of 2020, a sharp drop from the Dh353 million from a year ago.

But the company, which is in multiple sectors, said the Dh353 million was based on profits from a one-off transaction. If one were to ignore that, the first-half 2020 results show “resilience”.

“Dubai Investments strategy of diversification coupled with a robust business model have been instrumental in successfully facing down the challenges raised by the spread of pandemic,” said Khalid Bin Kalban, Vice-Chairman and CEO.

“We have been carefully reviewing our cost structure with an eye on optimization whilst continuing with our efforts aimed at sustained long-term growth. The Group is focused on being adaptable and flexible in the current environment and is geared up to take advantage of opportunities that come our way.”