Monday, August 9, 2021 – 12:48 PM
ABU DHABI, 9th August / WAM / The International Holding Company achieved net profits during the first half of this year amounting to 4.36 billion dirhams, a growth of 436% compared to the same period last year, primarily driven by the strategic acquisition of companies under joint control through business groups.
The multi-sector company recorded a growth in revenues of 304% to reach 9.93 billion dirhams, according to the financial results issued today by the company.
The acquisitions made by the International Holding Company significantly strengthened the group’s balance sheet, as total assets increased from 14.01 billion dirhams at the end of December 31, 2020 to 58.32 billion dirhams at the end of June 30, 2021, a growth of 316.3%.
Sayed Basr Shuaib, CEO and Managing Director of the International Holding Company, said that the company achieved exceptional growth during the past year, despite the current conditions experienced by the global economy sectors.. He added that the company is following a strategy that combines transformational acquisitions and additional natural growth by key sectors. .
Visionary business groups, acquisitions and strategic investments by the company’s leadership were at the heart of the global holding company’s strategy to enhance shareholder value as the growth trend continued during the first half of 2021 also due to the company’s desire to invest in business with accumulated value in a timely manner.
WAM/ Ahmed Al Nuaimi/ Dina Omar