Abu Dhabi, UAE — Emirates Stallions Group, an investment, engineering, and construction solutions company and a subsidiary of International Holding Company (IHC), has announced an 831 percent year-on-year (YoY) surge in net profit for H1 2023.
The company’s net profits for first-half profit reached AED 597 million ($162.5 million), compared to AED 64 million during the corresponding period last year.
Furthermore, the revenue for H1 2023 experienced an 81 percent growth, amounting to AED 266 million, as opposed to AED 147 million in H1 2022.
ESG’s total assets surged by 93 percent in comparison to December 2022, culminating in a value of AED 2.2 billion by June end. The company achieved a total revenue of AED 266 million, representing a significant 81 percent Year-on-Year growth, exemplifying its commitment to sustained excellence and dynamic financial performance.
“Our focused market strategies have paid off, allowing us to achieve remarkable performance while effectively managing costs. It is gratifying to see that our efforts have translated into continuous growth of our market share during this quarter,” said Matar Suhail Ali Al Yabhouni, Chairman of Emirates Stallions Group.