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IHC reports net profit of Dh1.5b [email protected] 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. ....
Abu Dhabi investment group IHC posts $618m revenue in Q1 ABU DHABI, 9 hours, 19 minutes ago Abu Dhabi-based International Holding Company (IHC) has reported a net profit of AED1.5 billion ($408 million) for the first quarter compared to AED113 million ($30.7 million) last year, mainly driven by growth in the industrials and capital verticals.
A strategic investment company, IHC seeks to expand and diversify its holdings across a growing number of sectors, including real estate, agriculture, healthcare, food and beverage, utilities, industries, IT and communications, retail and leisure, and capital.
Announcing its financial results for the first three months ended March 31, IHC said its revenues surged to hit AED2.276 billion from last year s figures of AED1.563 billion. ....
IHC s industrials vertical owns stakes in a number of businesses, including Quantlase Imaging Lab, the company behind the rapid Covid-19 screening system operated on the border between Abu Dhabi and Dubai at Ghantoot. It also owns Tamouh Healthcare, Pure Health and asset management company Eltizam Group. The capital unit contains its International Securities arm, a securities brokerage acquired from Dubai-listed investment bank Shuaa in 2019. IHC s acquisition spree over the past 12 months has led to substantial growth in the size of the company s balance sheet and its value. At the end of March, it had total assets of Dh19.67bn, compared to Dh8.9bn at the same period last year. ....