Dubai, UAE — Ethmar International Holding (EIH) said Thursday its net profit for the first half of 2023 grew by AED421 million ($114.61 million), from AED24 million during the same period last year to AED445 million in H1.
The increase reflects the continuous efforts of EIH to diversify its revenue sources, the company said.
The total assets of EIH have also increased significantly, from AED77.7 million at the end of 2022 to over AED2.23 billion at the end of the first half of 2023.
Additionally, there has been a significant increase in total equity, reporting approximately AED1.35 billion, compared to AED66.3 million during the same period last year.
Ali El Gebely, Managing Director and Group Chief Executive Officer of EIH, said, “With exceptional and successful positive results in the first half of the year, EIH Ethmar International Holding proudly showcases its strong and resilient business performance across all sectors, further solidifying its position as a key player in the region.”