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International Holding Company (IHC), listed on the Abu Dhabi Stock Exchange, continued to experience strong growth in the first six months of this year, according to the company’s financial results released on Monday.
The multi-sector company saw revenue growth of 304% to AED 9.93 billion in the first six months of 2021, compared to the same period last year, while net profit increased by 436% to AED 4.36 billion, mainly through strategic acquisitions. companies, generally controlled by groups of companies.
The tactical acquisitions made by the global holding company have also considerably strengthened the group’s balance sheet, the balance sheet total having increased from 14.01 billion dirhams at December 31, 2020 to 58.32 billion dirhams at the end of June 30, 2021, with a significant growth of 316.3%.
Sayed Basr Shuaib, CEO and Managing Director of IHC, said: “International Holding Company has achieved exceptional growth over the past year despite the difficult economic environment for many sectors of the global economy. strategy that combines transformational acquisitions and additional natural resources. growth through our key sectors. We have already built a conglomerate with diversified and integrated business activities spanning the entire region. The company is currently aspiring to further expansion and will seek to exploit the increased revenues and operational synergies across the group. “
The global holding company made another notable achievement in the second quarter of 2021, when it became the most valuable listed company on the Abu Dhabi Stock Exchange (ADX), and was also included in the Forbes 2020 list of ‘100 best companies in the middle East “.
In the second quarter results, the net profit of the International Holding amounted to 2.87 billion dirhams, up 309% over one year, thanks to strategic acquisitions and expansion in its main sectors, while revenues increased by 339%. to reach 7.65 billion dirhams in three months.
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