Emirates Stallions Group (ESG), a subsidiary of International Holding Company (IHC), today announced an impressive operational profit of AED 119M for the first half of 2024, marking a 128 percent year-on-year (YoY) increase.
The Group reported a significant revenue rise to AED 640M, a remarkable 140 percent YoY growth driven by organic expansion and strategic development.
ESG’s total assets continued to grow, reaching AED 3.38B, a 10 percent increase YoY. This growth highlights the Group’s ongoing focus on expansion, portfolio development, and long-term investment strategy. Demonstrating its strong financial position, ESG’s total equity has increased to AED 2.4B, reflecting a 5 percent YoY rise.
Matar Suhail Ali Al Yabhouni Aldhaheri, Chairman of ESG, stated, “ESG has advanced rapidly and decisively in 2024, with our gross profit growth this period highlighting our relentless ambition and the robust fundamentals of our business. This exceptional growth reflects our commitment to operational optimization and our pursuit of excellence across all sectors. As we continue to explore new opportunities, particularly in future-focused areas, we are uniquely positioned to refine and redefine our competitive edge.”
Kayed Ali Khorma, CEO of ESG, commented, “Our revenue and operational profit growth in the first half of this year marks another significant financial milestone in a series of recent achievements for the Group. These successes reflect our ability to swiftly connect our leading business propositions to growth opportunities that deliver value for our shareholders and contribute to the UAE economy. Looking ahead to the remainder of the year, our strong financial position provides a solid foundation to enhance our market-leading capabilities and achieve even greater success.”
