Abu Dhabi – Mubasher: The net profits of Alpha Dhabi Holding dropped to AED 6.68 billion in the first half (H1) of 2024 from AED 10.33 billion in H1-23.

The company generated total revenues valued at AED 29.31 billion in H1-24, up year-on-year (YoY) from AED 22.14 billion, according to the financial results.

Earnings per share (EPS) retreated to AED 0.43 as of 30 June 2024 from AED 0.88 in H1-23.

Alpha Dhabi Holding reinforced its balance with half-year total assets at AED 155 billion while the cash balance was at AED 20.70 billion.

Total equity was valued at AED 81.20 billion reflecting the depth and resilience financial position.

Income Statements for Q2

In the second quarter (Q2) of 2024, the profits shrank to AED 2.08 billion from AED 3.02 million in Q2-23, while the revenues hiked to AED 15.12 billion from AED 9.36 billion.

Meanwhile, the EPS amounted to AED 0.09 in Q2-24, versus AED 0.23 a year earlier.

Mohamed Thani Murshed Ghannam Al Rumaithi, Chairman of Alpha Dhabi Holding, said: "Alpha Dhabi has continued to build a resilient and forward-looking portfolio deep into 2024, delivering on what we set out to do at the beginning of the year.”

Hamad Al Ameri, CEO of Alpha Dhabi Holding, commented: “Our net profit from operations surging by 92% to AED 5.10 billion, is a firm reflection of how we are deepening our presence in key markets and sectors.”

In the three-month period that ended on 31 March 2024, the net profits witnessed an annual drop to AED 4.59 billion from AED 7.31 billion.