Dubai – Mubasher: The preliminary results of Dubai Investments reported net profits of AED 347.876 million in 2020, down from AED 657.42 million in 2019.
Lower net profits are driven by losses on fair valuation of investment properties, according to the company's disclosure to the Dubai Financial Market (DFM) on Wednesday.
The company's revenues declined to AED 2.658 billion in 2020 from AED 2.88 billion in the earlier year.
The earnings per share (EPS) settled at 0.08 fils last year, against 0.15 fils in 2019.
It is noteworthy to mention that during the third quarter (Q3) of 2020, the company's net profits jumped by 102% to AED 213.07 million from AED 105.49 million in the same quarter of 2019.
Source: Mubasher
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