International Holding Company (IHC), a leading investment conglomerate based in Abu Dhabi, has announced a preliminary net profit of AED32.748 billion ($8.92 billion) for the year ended December 31, 2023, showing a remarkable year of financial growth and strategic achievements.

 

The company had recorded Dh32.5 billion net profit in 2022.

 

According to the unaudited preliminary financial results for the year ended December 31, 2023, the group's revenue soared to AED60.089 billion, marking an 18% increase from the previous year's AED50.946 billion, said a Wam news agency report. 

 

This significant revenue growth is attributed to the company's strategic acquisitions and the enhanced financial performance of its existing businesses, aligning with the management's strategic vision for the group.

 

The Earnings per Share (EPS) saw a substantial rise, more than doubling from AED6.81 to AED12.36, reflecting the company's strong profitability and the value generated for its shareholders.

 

IHC’s subsidiaries operate across diverse sectors of; Real estate & Construction, Utilities, Healthcare, Food & Agriculture, Marine & Dredging, Services. The Group saw further expansion across Hospitality, Sustainability, AI & Technology and Financial Services & Asset Management.

 

IHC's Management’s commitment, coupled with the company's strategic initiatives, positions IHC for sustained success in the years to come.

 

In a statement, the company said these results may be different from the audited consolidated financial statements of the group, as these numbers are subject to external audit.