e& posts record 2023 profits of Dh10.3 billion, a growth of 3%

Dubai: e& recorded a 3 per cent rise in annual profits to Dh10.3 billion, partly aided by heightened demand for its digital services.

During the fiscal year 2023, e& recorded a consolidated revenue of Dh53.8 billion, representing a year-on-year increase of 2.5 per cent (Dh1.3 billion).

"However, revenue has been impacted by foreign exchange rate volatility in our international markets. At constant exchange rate, e& reported strong financial and operational performance, with a robust revenue increase of 8.3 per cent year over year reflecting growth in all key markets," the company said in a statement.