UAE: MBME Group posts robust HI net profit of $133mln

UAE: MBME Group posts robust HI net profit of $133mln

UAE - MBME Group has posted a robust first-half (H1) net profit of AED487.7 million ($133 million) reflecting the group’s continuous efforts to expand its market presence and deliver exceptional value to its stakeholders.

The group's growth has been driven by a range of strategic endeavours such as entering new markets, increasing organic growth, fostering innovative technologies, building new partnerships, and widening its geographic presence. This aligns with its mission to globally introduce transformative solutions, encouraging innovation and addressing evolving customer demands.

Ali Mohamed Saeed Albadi AlDhaheri, Chairman of MBME Group, said: “As we continue on this trajectory, we remain focused on delivering value and maintaining our position as an industry leader and are confident in our ability to build upon this success in the coming quarters.”

Book value at AED7.34 billion

According to the data released by the MBME Group, the total book value stood at AED7.34 billion reflecting effective operational strategies and revenue generation. Meanwhile, the substantial accumulated retained earnings of AED963.9 million signify prudent financial management and sustained profitability over time. The Group also recorded a Price-to-Book Value ratio of 4 points while the half-year earnings per share stood at 0.19 during this period.

During the first half of 2023, MBME Group