Abu Dhabi, UAE — Multiply Group, an Abu Dhabi-based investment holding company, reported AED9.29 billion ($2 billion) in net profit for the third quarter of 2022.
The Group’s Q3 2022 figures showed revenue of AED284 million ($29 million) and gross margin of AED138.7 million ($38 million), a company statement said on Friday.
The quarter saw continued sustainable growth across the Group’s subsidiaries, which grew by 67 percent in revenue and profitability year-on-year.
Meanwhile, investment and other income were recorded at AED9.25 billion, driven by the strong performance of both the Group’s portfolio and local financial markets.
The Group’s subsidiaries grew across all verticals in Q3 2022, continuing their strong and sustainable performance witnessed across the first half of the year.
Speaking on the occasion, Samia Bouazza, Group Chief Executive Officer And Managing Director, said that the Multiply Group delivered a strong quarter with substantial investment gains and continued growth of all verticals.
“Going forward, we are actively ensuring deal flow continues at a similar pace throughout the fourth quarter and into next year,” Bouazza said. “We see significant investment opportunities, locally and globally, particularly within our mobility vertical and will continue to acquire cash-generating assets and further accelerate our companies’ growth.”