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Dubai Holding's DHCOG says 2013 net profit jumps 178 pct
March 30, 2014 / 6:21 AM / 4 years ago

Dubai Holding's DHCOG says 2013 net profit jumps 178 pct

DUBAI, March 30 (Reuters) - Dubai ruler’s flagship company Dubai Holding said on Sunday its unit Dubai Holding Commercial Operations Group (DHCOG) has almost tripled its 2013 net profit to 3.3 billion dirhams thanks to a surge in core operational revenues.

DHCOG, which runs four businesses operating in 24 countries, reported a 178 percent increase in net profit from 1.2 billion dirhams from last year, the company said in an emailed statement.

During the year, total revenues rose by 27 percent to 11.6 billion dirhams, while total assets reached 116 billion dirhams.

It incorporates hotels group Jumeirah, business park TECOM Investments and Emirates International Telecommunications aside from a real estate division, Dubai Properties Group. (Reporting By Mirna Sleiman; Editing by Olzhas Auyezov)

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