IHC sees nine-month revenue rise 49.4% to Dh64b

Dubai: Abu Dhabi-based diversified global conglomerate International Holding Company saw its revenue for nine-month hit Dh64.0 billion, up 49.4 per cent, while profit after tax jumped by 18.3 per cent to Dh18.0 billion.

"This performance was strengthened by notable contributions from IHC’s Real Estate and Construction segment. The segment's momentum was driven by an increase in Aldar's revenue from strong property development sales, higher revenue from strategic acquisitions and new projects, and by the consolidation of Modon, ADNEC, Miza, and other assets under Modon Holding (formerly Q Holding)," the company said in a statement.

"Additionally, the Marine and Dredging segment experienced positive traction, supported by NMDC’s recent project wins and steady progress on ongoing projects. With solid gains across key sectors and the substantial asset growth through these strategic transactions in the first nine months, IHC is well-prepared to carry this growth trajectory forward into a promising fourth quarter.

"With solid gains across key sectors and the substantial asset growth through these strategic transactions in the first nine months, IHC is well-prepared to carry this growth trajectory forward into a promising fourth quarter."

Syed Basar Shueb, CEO of IHC, commented: “With strong momentum heading into the fourth quarter, we are positioned to capitalize on further opportunities while remaining focused on operational excellence and long-term value creation.’’

"As IHC approaches year-end, it remains committed to advancing its global expansion plans and delivering high-value growth to shareholders, while capitalizing on its strong asset base and cash reserves."

Additionally, IHC's cash and bank balance grew by 43.9 per cent, reaching Dh48.8 billion, reinforcing the company's ability to seize further growth opportunities, the company further noted.