Dubai Investments sees Q4 profit at Dh300m

Dubai Investments Co sees fourth quarter profit at around Dh300 million ($81.70 million), helped by the performance of its manufacturing units and the handover of a property project.

"The fourth quarter will be superior to the last quarter of 2008," Khalid bin Kalban told Reuters on Sunday. "The financial markets are recovering ... and we will be handing over 50 per cent of Ritaj, so we will book some profit." Dubai Investments, which reported a 56-per-cent fall in third-quarter profit earlier on Sunday, made a net loss of about Dh110m in the fourth quarter of last year.