IHC sees18% revenue jump in 2023, boosted by diversification
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IHC sees 18% revenue jump in 2023, as diversification pays off

IHC sees 18% revenue jump in 2023, as diversification pays off

Diversification into new sectors and strategic acquisitions fuelled growth, with preliminary net profit remaining strong at Dhs32.75bn

Neesha Salian
IHC Announces Stellar Preliminary Financial Results for 2023 Image courtesy IHC X

International Holding Company (IHC), the Abu Dhabi-based investment giant, reported preliminary unaudited financial results for 2023, showcasing a year of impressive growth and strategic expansion.

The group’s preliminary revenue surged 18 per cent year-on-year to Dhs60.09 bn ($16.4bn), boosted by acquisitions and the strong performance of existing businesses.

Net profit remained robust at Dhs32.75bn ($8.9bn), while earnings per share more than doubled to Dhs12.36 ($3.40), reflecting the company’s profitability and shareholder value creation.

“These results demonstrate the success of our diversified portfolio and strategic acquisitions,” said Syed Basar Shueb, vice chairman and managing director of IHC. “We are well-positioned for continued growth in the years to come.”

The company’s diverse portfolio spans real estate, healthcare, food and agriculture, and more. The company has also expanded into hospitality, sustainability, AI and technology, and financial services.

This diversification strategy has helped mitigate risks, enabling the company to capitalise on opportunities, across different sectors.

IHC acquisitions boost growth

The company’s aggressive acquisition spree also played a key role in its growth. Recent key acquisitions include Aldar Education, Alpha Dhabi Holding, and ARA Fertilizers. These deals bolstered IHC’s presence in key sectors and broadened its revenue base.

The company remains focused on expanding its portfolio and driving shareholder value.

The company plans to achieve this through further acquisitions, strategic investments, and business combinations. Its focus on operational synergies and cost efficiencies across all verticals will also contribute to its future success.

 In other news, in January, IHC established 2PointZero, a holding company that will have more than Dhs100bn ($27bn) in assets.

2PointZero’s portfolio will span private equity, alternative investments, investment banking and brokerage, in addition to artificial intelligence, mining and cryptocurrency ecosystems.

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