Saturday, May 18, 2024

“International Holding” Towards Further Business Expansion


Today, International Holding Company (ADX: IHC) announced its audited financial results for 2022, reaching a net profit of 32.6 billion dirhams, the best profit record in the company’s history, which continues to drive business and prosperity. In markets around the world and will expand in all sectors in the current year.

Net profit for the fourth quarter of 2022 reached 8.3 billion dirhams, compared to 4.3 billion in the same period last year, seeing a growth of 91% as a result of positive business performance across all sectors in the current unfavorable global environment. Market conditions.

The international holding company has reported a 78% growth in revenue to 50.9 billion dirhams in 2022, and an increase in net profit from 11.6 billion dirhams to 32.6 billion.

Strategic priorities

Syed Basr Shuaib, CEO of the international holding company, said: “I am proud of what we have achieved in 2022 as the external environment we have faced has been mixed in some key markets. However, our strategy set for 2021 aligns us with key drivers of global growth and we see strong progress in our business and strategic priorities. With the recent easing of Covid restrictions in China providing further reasons for optimism in 2023, the global economy remains resilient and the international holding company will continue to trade and prosper in markets around the world through the diversity of our unique investments.

The global holding company’s business strategy led to a significant strengthening of the company’s balance sheet, with assets increasing from 89 billion dirhams at the end of December 31, 2021 to 282 billion at the end of December 31, 2022, a growth of 156. %

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The number of companies of the international holding company increased from 302 in 2021 to 482 subsidiaries and 41 joint ventures and partners in 2022, fueling the growth of the company’s global business and growth in the company’s nine core business sectors. Clean energy, food and agriculture, healthcare, information technology and artificial intelligence, real estate, retail, entertainment and capital in 20 countries across Asia, Africa, Europe, North and South America.

Opportunities 2023

“Our performance in 2022 is due to the amazing work of our 125,732 employees worldwide, supported by the management team. We look forward to the opportunities that 2023 will bring, for which we are committed and deliver strong financial performance in the next few months,” Syed Basir Shuaib added.

Looking ahead to 2023, the global company’s companies remain committed to its core goal of “maintaining a strong business model by delivering substantial value to our stakeholders.” In all sectors, especially utilities, food, agriculture and information technology sectors.

Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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