Agthia Group PJSC (“Agthia” or “the Group”) announced today that its net profit surged by 32% year-on-year to AED 127.6M. Despite facing FX headwinds and the introduction of income tax in the UAE, the Group’s net profit margin expanded by 63 basis points to reach 8.8%.

Burjeel Holdings PLC today disclosed its financial results for the three-month period ended 31st March 2024, in line with International Financial Reporting Standards (IFRS), achieving a revenue increase of 11.1 percent to AED 1.2B in Q1 2024.

Abu Dhabi-based investment firm International Holding Company (IHC) – the most valuable entity listed on the Abu Dhabi Stock Exchange (ADX) – recorded a notable 87.6 per cent surge in net profit for the first quarter of 2024, reaching AED 8B ($2.18B), alongside a 22.5 per cent uptick in revenue to AED 19.3B ($5.26B).

Al Yah Satellite Communications Company (Yahsat) reported a 6% year-on-year revenue surge to a record AED 1.7B ($457M) in the fiscal year ending December 31, 2023. Adjusting for one-off items, EBITDA hit a record AED 996M ($271M), and net income spiked by 68% to AED 424M ($116M).