DUBAI: Dubai Investments (DI) has reported a profit surge to 123.8 million dirhams ($33.7 million) in the first quarter of the year, compared to a loss of 6.8 million dirhams in the same period last year.
This was attributed to strong performances in the company鈥檚 manufacturing and investments segments, and a relatively stabilized real estate sector, it said in a statement.
鈥淭he results in the first quarter of 2021 highlight the strong performance and resilience of our business model during what continues to be a challenging time for our region and the world,鈥� DI chief executive Khalid Bin Kalban said.
He said the company鈥檚 growth strategy was to focus on diversification.
The company recently acquired further interest in National General Insurance Company, which Kalban described as a move to 鈥渦nlock growth opportunities and deliver superior returns鈥� for its shareholders.
DI鈥檚 total assets remained stable at 22 billion dirhams, and total equity rose to 12.2 billion dirhams 鈥� a slight increase from 12 billion dirhams in the previous quarter.