Dubai – Mubasher: Tecom Group has generated AED 427.53 million in net profit during the first half (H1) of 2022, a 43.40% year-on-year (YoY) leap from AED 298.22 million.

The UAE-based firm posted revenues worth AED 989.41 million in the first six months (6M) of 2022, an annual growth of 15.80% from AED 854.51 million, according to the financial results.

Additionally, the basic and diluted earnings per share (EPS) stood at AED 0.17 in H1-22.

In the second quarter (Q2) of 2022, the company’s net profits jumped by 54.10% to AED 237.27 million, compared to AED 153.92 million during the same period a year earlier.

Meanwhile, the Q2-22 revenues soared by 18.50% YoY to AED 504.30 million from AED 425.61 million. The basic and diluted EPS settled at AED 0.05 during the April-June 2022 period.

CEO of Tecom Group, Abdulla Belhoul, said: “At the end of the period, the consolidated occupancy level at our operating assets was 82%, an encouraging increase from the 78% at the end of December 2021, reflecting positive business sentiment of our over 7,800 customers and reinforces our leadership position in Dubai.”

Last July, Tecom Group started listing and trading its shares on the Dubai Financial Market (DFM).