Gulf General Investment Company (GGICO), Dubai-based business conglomerate with widely diversified activities including real estate through its 30 subsidiaries and affiliates, has announced a profit of Dh505 million for the 1st half of 2008 with growth of 94% over the Dh260 million for the same period of last year. The revenue also surged 54% to Dh4.3 billion for the first 6 months of 2008 in comparison to Dh2.8 billion for the same period last year.
Mohamed Ali Al Sari, Deputy MD, GGICO, said, "All our subsidiaries and affiliates, especially the manufacturing, industrial and trading units have contributed positively to the growth of the group".
GGICO is a Dubai Financial Market listed public shareholding company. The group has interest in manufacturing & industrial, investment & brokerage, real estate, insurance, retail, trading, transport, services and hospitality. GGICO has been rated Baa2 by Moody's and BBB by Fitch.
