Abu Dhabi-based investment holding company Alpha Dhabi Holding said on Wednesday its Q1 2022 net profit soared to 2.84 billion dirhams, up from 100 million dirhams in the year-earlier period prior to its listing on Abu Dhabi Securities Exchange (ADX).

Revenues soared to 8.17 billion dirhams for the quarter backed with strong contributions from investments in the healthcare sector, real estate, construction and industrial verticals, the company said in a statement on ADX.

The company made acquisitions and investments totalling 5.21 billion dirhams. Assets grew to 52.56 billion dirhams, up from AED 47.35 billion as at the end of 2021.

(Writing by Brinda Darasha; editing by Seban Scaria)

brinda.darasha@lseg.com