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DHCOG posts 25% hike in net profit

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Dubai / WAM

Mohammad Abdulla Al Gergawi, Chairman of Dubai Holding announced on Saturday the preliminary unaudited financial results of its business group, Dubai Holding Commercial Operations Group (‘DHCOG’), for the year ended 31 December 2015.
DHCOG continued to see good operational progress with all businesses performing well and contributing to Group profitability.
Net profit increased to AED 5.83 billion, up 25% from AED 4.68 billion, while total revenues increased by 15% to AED 14.53 billion compared to AED 12.63 billion last year, as the group targets annual profit of AED 10 billion in four years. This growth was supported by the strong performance of its business units: TECOM Group , Jumeirah Group and Dubai Properties Group.
Al Gergawi explained that the Group’s solid performance supported the development of Dubai’s diversified economy. Dubai Holding continued to champion a range of non-oil sectors including;
hospitality, property, innovation, knowledge and technology.

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