Acquisitions drive 18% jump in 2023 revenue for International Holding Company
Abu Dhabi-listed conglomerate attributes growth to acquisitions, portfolio companies
International Holding Company (IHC) posted an 18 per cent rise in annual revenue, which the Abu Dhabi conglomerate attributed to its targeted acquisitions and growth of its portfolio companies.
For the year ended on December 2023, the holding company posted revenue of Dh60.1 billion, from Dh50.95 billion, and net profit of Dh32.8 billion, compared to Dh32.6 billion recorded a year earlier.
“This upward trajectory in revenue is a direct result of targeted acquisitions along with the solid performance of IHC’s portfolio companies, demonstrative of the effective implementation of the Group’s strategic roadmap,“ the company said in a statement.
“Operating in various sectors including real estate and construction, utilities, healthcare, food and agriculture, marine and dredging, and services, IHC’s subsidiaries have also ventured into expanding domains of hospitality, sustainability, AI and technology, and financial services and asset management, thereby reinforcing the Group’s diverse industry presence.”