International Holding Company (IHC), the Abu Dhabi-based investment giant, disclosed preliminary unaudited financial results for 2023, illustrating a year of noteworthy growth and strategic expansion.
The group’s preliminary revenue rose by 18 per cent year-on-year to AED 60.09B ($16.4B), propelled by acquisitions and the robust performance of existing businesses.
Net profit remained sturdy at AED 32.75B ($8.9B), while earnings per share more than doubled to AED 12.36 ($3.40), indicative of the company’s profitability and the creation of shareholder value, according to Arabian Business.
Syed Basar Shueb, Vice Chairman and Managing Director of IHC, stated, “These results demonstrate the success of our diversified portfolio and strategic acquisitions. We are well-positioned for continued growth in the years to come.”
IHC’s diverse portfolio encompasses real estate, healthcare, food and agriculture, and more, with recent expansions into hospitality, sustainability, AI and technology, and financial services. This diversification strategy has effectively mitigated risks, allowing the company to capitalize on opportunities in various sectors.
IHC’s aggressive acquisition strategy played a pivotal role in its growth, with recent notable acquisitions including Aldar Education, Alpha Dhabi Holding, and ARA Fertilizers, strengthening its presence in key sectors and expanding its revenue base.
The company remains dedicated to expanding its portfolio and enhancing shareholder value through further acquisitions, strategic investments, and business combinations. Emphasizing operational synergies and cost efficiencies across all verticals will contribute to its future success.
In January, IHC established 2PointZero, a holding company set to have assets exceeding AED 100B ($27B). The portfolio of 2PointZero will encompass private equity, alternative investments, investment banking and brokerage, along with artificial intelligence, mining, and cryptocurrency ecosystems.
