Dubai Holding's main unit reported a 61-per cent rise in yearly profits on Wednesday thanks to lower impairment charges and the disposal of non-core assets which helped offset a decline in revenues.
Dubai Holding Commercial Operations Group, part of the Dubai ruler's personal business empire, said it had 2011 net profit of Dh204 million ($55.54m), up from Dh127m in 2010.
Total revenues in 2011 fell to Dh8.8 billion from Dh13.5bn a year earlier while net cash from operations rose 7.3 per cent to Dh3.5bn.
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