PHOTO
Abu Dhabi's International Holding Company (IHC) posted a 53% jump in net profit for the third quarter of the year on the back of strong revenues.
Total net earnings for the period reached AED 8.7 billion ($2.37 billion), while revenue reached AED 29.9 billion, up by 34.6% from a year ago.
As for the year to date, net profit totaled AED 19.5 billion, growing by 8.3% from the same period last year, while revenue hit AED 84.6 billion, up by 32.3%.
The conglomerate also reported a high gross profit margin, which expanded to 26.6%, up from 23.9% in the first nine months of 2024.
The strong earnings reflect the positive operational performance of the company's businesses, including real estate and construction; hospitality and leisure; marine and dredging.
(Writing by Cleofe Maceda; editing by Seban Scaria)
