Abu Dhabi – Agthia Group has logged net profits attributable to the owners worth AED 118.10 million during the first half (H1) of 2022, an annual leap of 74% from AED 67.92 million.

Revenues jumped by 51% year-on-year (YoY) to AED 1.99 billion in H1-22 from AED 1.31 billion, according to the financial results.

The basic and diluted earnings per share (EPS) stood at AED 0.149 in the first six months (6M) of 2022, higher than AED 0.095 in H1-21.

During the second quarter (Q2) of 2022, Agthia posted a surge in net profit attributable to the owners to AED 35.90 million, versus AED 18.33 million in the year-ago period.

Meanwhile, the revenues totalled AED 942.48 million in the April-June 2022 period, up from AED 652.84 million during the same period a year earlier. The basic and diluted EPS rose to AED 0.045 in Q2-22 from AED 0.025 in Q2-21.

In a separate bourse disclosure, the company’s board suggested a cash dividend distribution of 8.25 fils per share for H1-22.

Khalifa Sultan Al Suwaidi, Chairman of Agthia, said: “The acquisitions we have completed over the past year have not only delivered strong top-line growth but also contributed to enhanced profitability as we integrate the businesses into the group and leverage synergies effectively.”

In January-March 2022, the UAE-based firm’s net profits attributable to the owners increased by 64% YoY to AED 82.19 million from AED 49.58 million.

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