IHC net income up 175.4% at Dh31.86 billion

Abu Dhabi-based conglomerate International Holding Company (IHC) reported net income of Dh31.86 billion in 2022, compared to Dh11.57 billion in 2021, a 175.4 per cent growth, it said on Tuesday.

The group recorded revenues of Dh50.41 billion last year, compared to Dh28.56 billon in 2021, a 76.5 per cent increase.

Earnings per share climbed to Dh6.11 compared to Dh4.03, the company said in a statement.

The company recorded a robust increase in revenues, profits and assets last year due to its strategic acquisitions and the strong financial performance of its business and operations, the statement added.