IHC posts 54.4% revenue spike in 2024

Dubai: IHC, a global investment firm based in Abu Dhabi, posted a 54.4% spike in revenue to Dh92.8 billion, as its acquisitions and projects drove growth in real estate, construction, and marine services.

Total assets increased by 52%, reaching Dh401.7 billion as of December 31, 2024, compared to Dh264.3 billion in 2023. The company also saw a 55.7% rise in total equity, which reached Dh244.1 billion by year-end.

Net profit after tax stood at Dh25.5 billion, down from Dh33.0 billion in 2023, reflecting a strategic reinvestment in growth initiatives and subsidiary expansions.

"Looking ahead, IHC is focused on sustainable growth, capitalising on its strong financial position to drive innovation and explore new opportunities in high-growth markets globally," it added.