Infracorp has reported net profit of $33 million for the year ended December 31, 2022, a positive result that reflects its strong financial performance in its first fiscal year.
The company which specialises in sustainable infrastructure and development investments, reported $128.5m in revenues in 2022, witnessing a strong performance across all sectors, as the real estate portfolio generated revenues of $99m, and $19m in revenues were reported by the industrial portfolio, while $10.5m in revenues were generated through the investment and financial instruments portfolio.
Commenting on the results, Hisham Alrayes, chairman of Infracorp, said: “The year 2022 marked Infracorp’s first year of operations after establishing itself as a leading player in the real estate and infrastructure development industry. The company’s renewed focus on diversification and strong commitment to environmental, social, and governance principles demonstrated its dedication to sustainable growth and responsible business practices.
As a result, Infracorp is well-positioned to seize opportunities in emerging markets and capitalise on the growing demand for innovative and sustainable infrastructure solutions.”
The company manages a diversified portfolio of assets, with a total value of nearly $3 billion.Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).