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IHC’s profits to equityholders jump to AED 12.65bn in 2022

IHC’s profits to equityholders jump to AED 12.65bn in 2022
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Abu Dhabi – Mubasher: International Holding Company (IHC) posted net profits attributable to the shareholders worth AED 12.65 billion in 2022, higher than AED 7.33 billion in 2021.

The revenues stood at AED 50.94 billion during the January-December 2022 period, an annual leap of 78% from AED 28.56 billion, according to the audited consolidated financial results.

Basic and diluted earnings per share (EPS) increased to AED 6.81 in 2022 from AED 4.03 in 2021, while the total assets enlarged to AED 228.03 billion from AED 88.98 billion.

Net Profits for Q4-22

During the fourth quarter (Q4) of 2022, the ADX-listed company logged net profits worth AED 8.30 billion, a 91% year-on-year (YoY) hike from AED 4.30 billion.

Syed Basar Shueb, CEO of IHC, commented: “I am extremely proud of what we have achieved in 2022, the external environment we faced was mixed in some of the key markets.”

“However, our strategy, outlined in 2021, aligns us with the major engines of global growth and we see strong progress across our strategic businesses and priorities,” Shueb added.

He indicated: “The global economy remained resilient, with the recent relaxation of COVID-19 restrictions in China providing more grounds for optimism in 2023, IHC will continue to drive commerce and prosperity in markets across the world through our unique investment’s diversity.”

During the first nine months (9M) of 2022, IHC recorded a surge in net profit attributable to the owners to AED 10.82 billion, compared to AED 4.72 billion in the year-ago period.