The Dubai conglomerate that owns the Jumeirah Group and Tecom has boosted profits and reduced its debt, helped by the emirate's rebounding tourism and retail sectors.
Dubai Holding Commercial Operations Group (DHCOG), which also owns Dubai Properties Group, reported that its annual net profit surged 44 per cent to Dh324.3 million (US$88.2m) as it reduced its cost base and increased margins.
But the results also included a Dh2.4 billion impairment related to its property assets and part of its telecommunications portfolio.
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