Dubai Investments said profits almost doubled in the first quarter of the year to Dh200 million as the conglomerate forecasts a brighter outlook for its stable of companies.
Earnings grew from Dh107m in the first quarter of the year before, said Khalid bin Kalban, the chief executive of Dubai Investments.
Profit would be bolstered by the sale of stakes in two companies, he said, likely to be completed in the second or third quarter. He declined to name the companies.
"Everywhere you look there are positive signs coming from the economy and all activities," he said after the conclusion of Dubai Investments' annual general meeting yesterday. "You get a profit from share trading, a positive gain on investments, real estate, manufacturing."