Abu Dhabi: ADX-listed Alpha Dhabi Holding PJSC announced Thursday a group net profit of Dh6.7 billion for first six months of the year ending June 30.
Revenues for Alpha Dhabi stood at Dh 29.3 billion, representing a 32 per cent increase from the same period last year. Net profit from operations also surged to Dh 5.1 billion, marking 92 per cent year-on-year increase, while gross profit was at Dh 6.4 billion, marking a 38 per cent year-on-year increase.
Total gains in the first half of the year at Dh 2.0 billion, were lower than corresponding period in 2023 when the group de-recognised PureHealth.
The reduction in gains, together with the adoption of Corporate Tax in the UAE in 2024, contributed to a decrease in group net profit, overall.
Mohamed Thani Murshed Ghannam Al Rumaithi, Chairman of Alpha Dhabi Holding, said, “Alpha Dhabi has continued to build a resilient and forward-looking portfolio deep into 2024, delivering on what we set out to do at the beginning of the year. As always, our aim is to do well, and to do good - meaning we strive to deliver exceptional performance and to create long-term residual value across the UAE economy for the benefit of its people.”
He added, “This is exactly what we achieved in the last six months with our increased revenue for this period last year, showing full well the strength and success of our business. Now, with our sights firmly set on the future, our portfolio is geared towards catalysing opportunities that will enable and encourage enterprises to transform and adapt through innovation and sustainability."
More to follow...
