Abu Dhabi – Mubasher: International Holding Company (IHC) posted net profits attributable to the owners worth AED 4.41 billion during the first half (H1) of 2022, higher than AED 2.61 billion in H1-21.

In the first six months (6M) of 2022, the revenues soared by 121% year-on-year (YoY) to AED 21.92 billion, compared to AED 9.92 billion, according to the income statements.

The basic and diluted earnings per share (EPS) rose to AED 2.42 in H1-22 from AED 1.44 in H1-21.

During the second quarter (Q2) of 2022, the company’s net profits attributable to the owners jumped to AED 2.81 billion from AED 1.28 billion in Q2-21.

Furthermore, the revenues amounted to AED 11.43 billion in April-June 2022, a hike from AED 7.64 billion during the same period a year earlier. The basic and diluted EPS went up to AED 1.54 in Q2-22 from AED 0.71 in the year-ago period.

Syed Basar Shueb, CEO of IHC, noted: “There remains much to be done to capture our strategy's full potential, strengthening the group's performance even further, as other mega acquisition deals present themselves in the second half of this year, locally and globally. It will continue for many quarters.”

In the January-March 2022 period, the UAE-based firm logged net profits attributable to the owners of AED 1.60 billion, up from AED 1.33 billion in Q1-21.