Dubai Investments said on July 27, its first-half net profit jumped almost six-fold to 253 million dirhams ($68.9 million) from 46 million dirhams a year earlier. Revenue rose 362 percent to 637 million dirhams while assets grew to 2.6 billion dirhams, up 18 percent from the end of 2004, the firm said in a statement.
Many companies in the United Arab Emirates and other Gulf Arab states have reported strong results, helped by a regional economy that is booming on the back of high oil prices.
Shareholder equity increased 62 percent to 1.3 billion dirhams from the year-ago period.
The firm's shares closed up 3.1 percent at 13.10 dirhams on the Dubai stock exchange, compared to a year high of 19.20 dirhams in May and a low of 5.81 dirhams in January.
Dubai Investments' portfolio includes stakes in around 30 ventures in the Gulf region.
Assets include wholly-owned Dubai Investments Park, a real estate venture in the UAE trading hub, and stakes in two private petrochemical firms in neighbouring Saudi Arabia.
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