Oct 4 Dubai Holding Commercial Operations Group (DHCOG), part of a conglomerate owned by the emirate's ruler, reported a 24 percent increase in half-year net profit.
DHCOG has interests in hospitality, business parks, real estate and telecommunications. It made a net profit of 2.6 billion dirhams ($707.91 million) in the first six months of 2015, up from 2.1 billion dirhams in the prior-year period, according to a statement emailed this weekend.
In the statement, the company said it expects full-year net profit to exceed 5.5 billion dirhams. It reported a profit of 4.68 billion dirhams in 2014.
DHCOG did not provide a half-yearly revenue figure or explain the profit growth, aside from stating it "continued to see good operational progress with all businesses performing well and contributing to the Group's profitability".
($1 = 3.6728 UAE dirhams) (Reporting by Matt Smith; Editing by Richard Borsuk)