The Investment Corporation of Dubai (ICD), which owns key businesses including Emirates airline and property developer Emaar, revealed figures in the prospectus of its first Islamic bond issue, the Financial Times has reported.
ICD’s revenues rose 18% to $24.8bn, and net profits fell 4.7% to $2.2bn, in the second half of last year, impacted by higher oil prices and financing costs.
Dubai’s Emirates Group today separately revealed a $1.1bn profit, up 32% from the previous year and revenue growth of 13%, to $23.9bn.
Sheikh Ahmed bin Saeed Al Maktoum, chairman and chief executive, Emirates Airline and Group, said: "Throughout 2013-14 the Group has collectively invested over AED 22.0bn (US$ 6bn), the highest amount ever in one financial year.”
Emirates Airline revenue set a new record at $22.5bn, carrying a record 44.5m passengers, up 13% from last year.
