Dubai – Mubasher: UAE investment companies are forecasted to see a 15% decrease in their profits for the third quarter of the fiscal year 2016, according to analysts.
Investment companies' losses are to narrow from 23% to 15% in third quarter amid their focus on selective opportunities in the real estate and capital markets, said market analysts Mohamed Mahdi and Waleed Khatab.
Over the first half, investment firms earned AED 902.85 million, lower 23% year-on-year as per Mubasher data.
Lower consolidated profits during this period are attributed to a number of factors, most importantly including significant changes in the fair values of various investment activities, namely the real estate ones, the analysts said expecting revenues to increase as well.
Investment Diversifications are likely to have a positive impact on revenues that are anticipated to grow by 5% to cross AED 2.5 billion in the third quarter, Mahdi added.
In the first half, revenues increased 1.16% year-on-year to AED 1.16 billion, according to Mubasher calculations.
