UAE: Ethmar International Holding announces distribution of AED 100 million of dividends to investors
Aug 10, 2023
Abu Dhabi [UAE], August 10 (ANI/WAM): Ethmar International Holding (EIH) has announced the distribution of AED 100 million of the dividends to its investors based on the interim results for the first half of 2023 (H1), ending on June 30, 2023.
This step further strengthens EIH’s expanding position within the investment landscape of the capital and the UAE, reflecting its exceptional financial performance and remarkable growth.
During the first half of 2023, EIH witnessed a net profit of AED 445 million, compared to AED 24 million during the same period in 2022.
Ali El Gebely, Managing Director and Group CEO of EIH, commented, "Achieving these impressive results is the outcome of the vision and proper guidance of EIH’s board of directors, along with the continuous efforts of our team. On this occasion, we reaffirm our commitment to prioritising the interests of our investors and our constant pursuit of exploring new and rewarding investment opportunities."
The growth has been driven by EIH’s remarkable expansion of total assets during this year, combined with its acquisition and diversification strategy. The company's assets increased from AED 77.7 million in the first half of 2022 to AED 2.23 billion by the end of the first half of 2023. Additionally, there has been a significant increase in total equity, reporting approximately AED 1.35 billion, compared to AED 66.3 million during the same period last year.
"The first half of this year has showcased the successful outcomes of EIH's strategy pursued during the past year across its business sectors and investment portfolios. These great results offer numerous opportunities for growth, aligning with the UAE’s and Abu Dhabi's ambitious economic goals. They also reflect the efficiency of the company's approach in pursuing expansion, governance enhancement, adherence to global best practices, and the continuous pursuit of innovation to set new standards for growth and success," El Gebely added. (ANI/WAM)
