RIYADH: The Investment Corporation of Dubai posted a profit of 10.1 billion dirhams ($2.7 billion) for 2021, a significant turnaround from the previous 12 months and also indicative of recovery from the impact of the COVID-19 pandemic. The improvement in profits was driven by revenue growth, which increased by 24.5 percent to 169.4 billion dirhams, helped by higher oil and gas prices, the group said in a statement. The state-owned investment firm also attributed performance to cost discipline, as well as lower impairments in the banking, real estate, and hospitality sectors. “Our portfolio companies reaped the benefits of the steps taken earlier during the pandemic to protect their businesses, adapt their models, and enhance cost-effectiveness,” Managing Director Mohammed Ibrahim Al Shaibani said.