Dubai Holding Commercial Operations Group (DHCOG) has announced a 60 per cent increase in its 2011 net profits, to Dh204 million, up from Dh127m in 2010, and its CEO affirmed that the unit will continue to repay its debt as and when it becomes due even as the group diversifies its revenues away from property and land sales.
“DHCOG is committed to meeting its financial obligations as and when they fall due,” said Ahmad Bin Byat, CEO of Dubai Holding, in the media statement announcing the unit’s positive annual results.
“The company has robust hotel management, telecommunications, free zone and property businesses that contribute a healthy cash flow,” he said. DHCOG comprises four business subsidiaries: Jumeirah Group (Jumeirah), Dubai Properties Group (DPG), TECOM Investments (TECOM) and Emirates International Telecommunications (EIT).
No comments:
Post a Comment