Abu Dhabi’s IHC reports three-fold jump in 2021 profit on acquisitions – The National

Abu Dhabi’s IHC reports three-fold jump in 2021 profit on acquisitions – The National

Abu Dhabi’s International Holding Company has reported a more than three-fold jump in its 2021 profit, as revenue surged on the back of new acquisitions.

Net profit for the full year climbed to Dh11.3 billion ($3.07bn), the company said in a statement to the Abu Dhabi Securities Exchange, where its shares are traded. Revenue during the period rose four-fold to Dh28.3bn.

“The group witnessed a significant increase in revenues, profits and assets, which is mainly driven by the strategic acquisitions in addition to the improvements in the current business financial performance,” IHC said on Friday.