DUBAI Investments PJSC (DI), the largest investment company listed on the Dubai Financial Market (DFM), has announced a net profit of Dh161 million ($43.8 million) in the third quarter of 2013, a 98 per cent increase compared to the Dh81.4 million profit in the third quarter of 2012. Profit for the nine months ended September 30, 2013 was Dh531 million, an increase of 110 per cent as compared to Dh252 million achieved in the comparable period last year.

Khalid bin Kalban, managing director and CEO of Dubai Investments, said: “DI has yet again achieved very strong results and this is a testimony to the value and growth potential of our diversified portfolio and our pioneering business models. With the upswing in the economic and investment climate in the UAE and the region, we expect the momentum to continue for the rest of the year.”

He added: “Amidst this optimistic sentiment, we are exploring opportunities in strategically promising businesses across diversified sectors in the existing and new geographical locations across the region to consolidate our position as an important regional player while providing significant returns to our shareholders.”

DI owns around 40 subsidiaries and joint ventures encompassing a diverse range of sectors including manufacturing of construction-related materials, food and dairy products, pharmaceuticals, industrial and commercial properties, real estate management and property development, marketing and sales, information technology solutions, driver education, district cooling and financial investments.

Incorporated in 1995, Dubai Investments is the largest investment company listed on the Dubai Financial Market with over 19,894 shareholders, and a paid-up capital of Dh3.5 billion. The company works in manufacturing, financial investments, real estate development and mergers and acquisitions. The portfolio comprises six large investment units – Glass LLC, Dubai Investments Industries (DII), Masharie Company LLC, Dubai Investment Park (DIP), DI Real Estate Company (DIRC) and Al Taif Investment.