Abu Dhabi – Mubasher: Multiply Group posted lower net profits after tax at AED 189.03 million in 2024, compared to AED 551.98 million in 2023.
Revenues increased by 56% year-on-year (YoY) to AED 2.02 billion at the end of December 2024 from AED 1.29 billion, according to the consolidated financial results.
The basic and diluted loss per share hit AED 0.001 last year, against earnings per share (EPS) of AED 0.030 in 2023.
Total assets hiked to AED 43.01 billion in the January-December 2024 period from AED 42.16 billion a year earlier.
Samia Bouazza, Group CEO and Managing Director of Multiply Group, said: “2024 was also the Year of Efficiency, where we pursued impactful operational efficiencies across our businesses, reaching AED 50 million of efficiency gains.”
“Our robust balance sheet now boasts over AED 2 billion as cash and cash equivalents with additional capacity to invest up to AED 4 billion for future growth,” Bouazza added.
She highlighted: “Finally, by integrating AI-driven solutions and expanding our global presence, we continue to ensure our business remains not only fit for the future but also thriving in it”.
In the September-December 2024 period, the UAE-based group logged a net profit excluding fair value changes worth AED 207 million.
