Multiply Group, the leading investment holding company in Abu Dhabi, has published a report announcing that the company made a net profit of more than 393 million dirhams during the first three months of 2024.
Publish dateSunday 5 May 2024 - 15:06
The holding company wrote that this figure represents a 48% growth compared to the same period last year.
The group's revenue increased by 45% year-on-year to AED 391 million, driven by growth in all segments and the integration of Media 247 and Back Lite Media in the Media segment.
Multiply Group has recognized an EBITDA increase of up to AED 45 million across its portfolio. 50% of it comes from revenue synergy, 40% from cost optimization and 10% from digital.
"During the first quarter of 2024, we maintained our focus on delivering strong growth among existing subsidiaries and adding new high-value acquisitions to our portfolio," said Samya Boaza, Group Executive Director and CEO. Our net profit and operating portfolio income grew by 39% and 45%, respectively, and net profit for the first quarter, excluding changes in fair value, reached 393 million dirhams.
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Source : news agency wam
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