IHC smash previous record reporting over AED 10.3bln in net profits in H1 2022

IHC smash previous record reporting over AED 10.3bln in net profits in H1 2022

- H1 total revenue touched AED 21.93 billion, an increase of 121% as compared to June 2021.

- IHC to increase its global investments in 2nd half of 2022 through mega deals and acquisitions.

Abu Dhabi, UAE: International Holding Company PJSC (ADX: IHC), a diversified Abu Dhabi-based conglomerate, has posted new record Profits in the first half of 2022, as the company continues its aggressive investment strategy through a focused, high-conviction approach, targeting local and international business acquisitions with sustainable earnings and cash flow growth.

The solid business performance across all IHC subsidiaries has resulted in a significant strengthening of the conglomerate’s balance sheet, as Revenue grew by 121 percent to AED 21.93 billion in the first six months of 2022, compared to the same period last year, while Net Profit rose 137 percent to AED 10.35 billion as compared to 1H 2021.

IHC's strategic acquisition of companies in H1 2022 had a positive impact on the organization's net worth, as the Total Assets exceeded the company liabilities increasing from AED 88.98 billion by the end of December 31, 2021, to AED 163.69 billion at the end of June 30, 2022– an immense 84 percent growth.

Syed Basar Shueb, IHC’s Chief Executive Officer, commented: “There