Dubai: The ADX-listed investment heavyweight, Alpha Dhabi, has more than doubled its revenues to a substantial Dh39.64 billion for 2022, as its consolidates gains across the multiple sectors it operates in.
The profit was at Dh10.6 billion from Dh5.16 billion. “Management confirms its commitment to support and enhance core activities of the Group to attain continuous growth,” said a statement.
Alpha Dhabi is a major shareholder in Abu Dhabi’s Aldar, and is also a major investor in Pure Health, which is emerging as one of the systemically important healthcare entities in the country. (In January last year, ADQ became the largest shareholder in Pure Health and consolidate multiple hospital and clinic operations under its umbrella.)
An asset leap
At the end of December last, Alpha Dhabi’s asset base was valued at Dh13.71 billion – quite the leap from the Dh47.34 billion from a year before. Incidentally, the company is part of the IHC portfolio, with IHC acquiring a 45 per cent stake in April 2021.
Alpha Dhabi has a market cap of Dh231 billion, and its stock price recorded a 1.49 per cent uptick on Thursday to Dh23.16.