Abu Dhabi – Mubasher: The net profits of Alpha Dhabi Holding amounted to AED 7.31 billion in the first quarter (Q1) of 2023, an annual jump of 161% from AED 2.83 billion.
Revenues jumped by 56% to AED 12.77 billion in Q1-23 from AED 8.16 billion in Q1-22, according to the unaudited financial results.
The basic and diluted earnings per share (EPS) stood at AED 0.65 during the first three months (3M) of 2023, higher than AED 0.20 in the year-ago period.
The total assets hit AED 120.67 billion in January-March 2023, versus AED 131.02 billion as of 31 December 2022.
In line with its growth strategy, the ADX-listed company teamed up with Mubadala to co-invest in global credit opportunities. The two entities will collectively deploy up to AED 9 billion, equivalent to nearly $2.50 billion over the next five years.
Hamad Al Ameri, CEO of Alpha Dhabi, commented: "Our diversified business continues to grow from strength to strength with a positive market sentiment in the UAE, underpinned by strong economic fundamentals and a buoyant capital markets landscape in contrast with the global outlook.”
“Looking ahead we will continue to develop our core verticals both organically and through additional investment and acquisition. We continue to deploy capital effectively in value-accretive opportunities that support the market leadership of our portfolio companies,” Al Ameri noted.
Last year, Alpha Dhabi logged net profits valued at AED 10.60 billion, compared to AED 5.16 billion in 2021.
