Abu Dhabi-based International Holding Company (IHC) has posted new profits in the first half of 2022, with revenues growing by 121 percent to 21.93 billion dirhams in the first six months of 2022, compared to the same period last year. Meanwhile, net profits rose 137 percent to 10.35 billion ($2.82 billion) as compared to H1 2021.
IHC‘s strategic acquisition of companies in H1 2022 had a positive impact on the organization’s net worth, as the Total Assets exceeded the company liabilities increasing from 88.98 billion dirhams by the end of December 31, 2021, to 163.69 billion dirhams at the end of June 30, 2022, an 84 percent growth.
In the second quarter of 2022, IHC completed a 7.3 billion dirhams ($2 billion) strategic investment deal in the green energy sector with India’s Adani Group, one of the largest deals between the UAE and India, representing 4.87 percent of the total trade between the two countries.
