The financial statements of Dubai Investments showed that the company's profits fell by 47.1% in the last year compared to the profits of 2019.
According to the company's results for the Dubai Financial Market, today, Thursday, profits for the past year amounted to 347.9 million dirhams, compared to 2019 profits of 657.4 million dirhams.
The company said in a statement to the Stock Exchange that the decline in profits during the comparative years is due to the recording of losses from the fair value of investment properties, in return for achieving profits during 2019.
The results showed that the company's revenues last year fell by about 8% compared to the revenues of the year immediately preceding it.
Dubai Investments incurred losses of AED 70.2 million in the fourth quarter of last year, compared to profits for the same period in 2019 of 198.7 million dirhams.
