Abu Dhabi - Mubasher: The net profit after tax of EasyLease, a subsidiary of the International Holding Company (IHC), surged to AED 13.01 million in the first quarter (Q1) of 2024 from AED 5.50 million in the same quarter a year earlier.

Revenues surged 38.60% year-on-year (YoY) to AED 97.36 million in Q1-24, according to the Emirates News Agency (WAM).

Total assets soared to AED 458.53 million in the three-month period that ended on 31 March 2024, versus AED 376.21 million in Q1-23.

Ahmad Al Sadah, CEO of EasyLease, said: “Our exceptional growth in the first quarter is a direct result of our strategic foresight and relentless pursuit of operational excellence. The investments and expansion efforts that we embarked on in 2022 & 2023 are now yielding significant returns.”

“The acquisition of United Trans is aligned with our long-term vision to dominate the smart mobility market, ensuring we stay at the forefront of innovation and market expansion,” Al Sadah added.

Earlier in April, EasyLease bought a 60% stake in United Trans, a rail and transportation technology solutions provider.