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Investment Corporation of Dubai reports surge in 2022 profit

Middle East

31-05-2023 | 08:45

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Investment Corporation of Dubai reports surge in 2022 profit

The Investment Corporation of Dubai, the government's main investment arm, reported on Wednesday a more than 250% surge in profit for 2022, extending a post-pandemic recovery.

ICD, which owns the airline Emirates, reported profit of 36.1 billion dirhams ($9.83 billion), up from 10.1 billion dirhams in 2021 and a loss in 2020, a filing showed.

About 6.37 billion dirhams of the profit was attributable to non-controlling interests.

Revenue jumped to 267.4 billion dirhams from 169.4 billion in 2021.

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