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IHC posts higher profits to owners at AED 10.82bn in 9M-22

IHC posts higher profits to owners at AED 10.82bn in 9M-22
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Abu Dhabi – Mubasher: The net profits attributable to the shareholders of International Holding Company (IHC) amounted to AED 10.82 billion in the first nine months (9M) of 2022, a leap from AED 4.72 billion in 9M-21.

The ADX-listed firm generated revenues of AED 34.31 billion in January-September 2022, higher than AED 18.31 billion during the same period a year earlier, according to the income statements.

The basic and diluted earnings per share (EPS) stood at AED 5.95 in 9M-22, versus AED 2.60 in 9M-21.

During the third quarter (Q3) of 2022, the net profits attributable to owners widened to AED 6.41 billion from AED 2.10 billion in Q3-21, while the revenues hiked to AED 12.38 billion from AED 8.38 billion.

Meanwhile, the basic and diluted EPS jumped to AED 3.52 in Q3-22 from AED 1.16 in Q3-21.

Syed Basar Shueb, CEO of IHC, said: “Going forward, IHC plans to remain focused on global market expansion, we have set an ambitious long-term goal to grow the number of our global business acquisitions by 70% in the next 12 months. Our strong financial performance positions us well to enter new territories.”

In the first half (H1) of 2022, IHC witnessed a surge in net profits attributable to the equityholders to AED 4.41 billion, compared to AED 2.61 billion in the year-ago period.