Emirates Stallions Group, a leading engineering and construction company, has acquired a 60% stake in Abu Dhabi-based Afkar Financial & Property Investments in a strategic move that marks ESG’s robust expansion in the UAE real estate and retail sector.
The conglomerate, which has emerged as the largest company in the UAE by market cap at Dh277 billion in 2021, reported revenue of Dh28.56 billion with assets growing.
IHC reports net profit of Dh1.5b reporters@khaleejtimes.com Filed on May 5, 2021
International Holding Company (IHC) has reported a net profit of Dh1.5 billion led by major contributions from its industrials and capital verticals.
The company posted its results for Q1 2021, with revenues in the first quarter of 2021 standing at Dh2.276 billion, up from Dh1.563 billion in Q1 2020. The significant improvement in net profit in absolute and percentage terms was mainly due to improved business performance and profits attributable to acquisitions and investments completed in the second half of 2020.
IHC’s total assets stood at Dh19.7 billion as at March 31, 2021, compared to Dh14 billion as at December 31, 2020.