Dubai state fund ICD's profits slip on lower oil, gas revenues

June 28, 2016 12:56 PM

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DUBAI, June 28 Investment Corporation of Dubai (ICD), which holds stakes in some of the emirate's top companies, posted a 3.7 percent drop in profit last year as revenue from oil and gas products and services fell.

Profit attributable to equity holders of the company slipped to 22.90 billion dirhams ($6.24 billion) in 2015, from 23.79 billion dirhams in the prior year, according to an earnings statement posted on Dubai's stock exchange.

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