Abu Dhabi – Mubasher: The net profits of International Holding Company (IHC) jumped by 18% to AED 12.31 billion in the first half (H1) of 2024 from AED 10.39 billion in H1-23.
The revenues stood at AED 41.74 billion in H1-24, up 46% year-on-year (YoY) from AED 28.66 billion, according to the financial results.
Basic and diluted earnings per share (EPS) went down YoY to AED 3.23 as of 30 June 2024 from AED 3.27.
IHC registered total assets valued at AED 362.90 billion in H1-24, higher by 37% than AED 264.27 billion as of 31 December 2023.
Income Results for Q2
In the second quarter (Q2) of 2024, the company’s net profits shrank to AED 4.29 billion from AED 6.12 billion in Q2-23, while the revenues hiked to AED 22.45 billion from AED 12.92 billion.
Meanwhile, the EPS amounted to AED 1.06 in Q2-24, versus AED 2.08 in April-June 2023.
Syed Basar Shueb, CEO of IHC, commented: “Our half-year results highlight the relentless pace at which we execute our strategic objectives locally and internationally. Our ability to outperform market growth across key segments, driven by active investments from our subsidiaries, solidifies our position as a market leader.”
As of 31 March 2024, the ADX-listed company logged net profits after tax valued at AED 8.01 billion, an annual leap of 87.60% from AED 4.27 billion.
