Abu Dhabi – Mubasher: Multiply Group registered AED 325.28 million in net profit attributable to the shareholders during the first half (H1) of 2023, an annual decline from AED 389.30 million.
The UAE-based company’s revenues hit AED 545.50 million as of 30 June 2023, higher than AED 507.26 million in H1-22, according to the income statements.
In the first six months (6M) of 2023, the basic earnings per share (EPS) amounted to AED 0.030, an annual drop from AED 0.035.
Financial Results for Q2-23
The net profits attributable to the owners of the ADX-listed firm reached AED 362.12 million in the second quarter (Q2) of 2023, versus AED 98.71 million in the year-ago period.
Meanwhile, the revenues increased by 3.90% to AED 276.41 million in Q2-23 from AED 266.05 million in Q2-22.
Samia Bouazza, Group CEO and Managing Director of Multiply Group, said: “Our Q2 earnings report for 2023 highlights the growth across our diversified portfolio of assets, driven by our pursuit of creating long-term value through strategic investments.”
“We expanded our Media portfolio by acquiring a 55% stake in Media247 and invested $100 million in EIG, which offers a very attractive dividend profile,” Bouazza indicated.
She noted: “Looking ahead, we remain focused on building our verticals, growing our operating businesses, and further enhancing our income streams to power sustained growth.”
“With access to AED 2 billion in cash and over AED 4 billion in financing capacity, we continue to seek lucrative opportunities here in the UAE and globally,” the CEO added.
During the three-month period that ended on 31 March 2023, Multiply Group recorded net profits excluding fair value gains/ losses crossing AED 266 million.
