Ethmar reports AED421m increase in net profit for H1

ABU DHABI / WAM

Ethmar International Holding (EIH) has recorded significant profits in the first half of 2023 to bolster its position as a leading holding company, reporting an increase in net profit, reaching AED445 million at the end of the first half of the year 2023, compared to approximately AED24 million during the same period last year, an increase in its net profit amounting to AED421 million.
This remarkable increase reflects the continuous efforts of EIH to diversify its revenue sources, which will further consolidate its position as a successful holding company. The total assets of EIH have also increased significantly, from AED77.7 million at the end of 2022 to over AED2.23 billion at the end of the first half of 2023. Additionally, there has been a significant increase in total equity, reporting approximately AED1.35 billion, compared to AED66.3 million during the same period last year.
Ali El Gebely, Managing Director and Group Chief Executive Officer of EIH, said, “With exceptional and successful positive results in the first half of the year, EIH Ethmar International Holding proudly showcases its strong and resilient business performance across all sectors, further solidifying its position as a key player in the region. Committed to providing a thriving and prosperous business environment, EIH aligns its investment strategies with the principles of development, diversity, and governance, adhering to the highest standards and international best practices.”
“Each opportunity pursued by EIH is thoughtfully chosen to create significant value, contribute to the economy, and prioritise the best interests of its esteemed investors. These remarkable achievements underscore EIH’s innovative and visionary approach, setting new industry standards and paving the way for continued success,” he said.