IHC posts flat bottom line growth: ADX-listed conglomerate International Holding Company’s (IHC) net income stood at AED 32.57 bn in FY 2023, inching up 0.5% y-o-y, according to the company’s preliminary financial statement (pdf).

The conglomerate saw its revenues rise 18% y-o-y to AED 60.1 bn in 2023 on the back of “strategic acquisitions in addition to the improvements in the current business financial performance in line with management strategic vision for the group,” it said. IHC’s total assets grew 15% y-o-y to AED 264 bn in 2023.

ICYMI- IHC is transferring some AED 100 bn of its assets to 2PointZero, a firm that will hold companies across segments including financial services, investment banking, technology and AI, mining and resource management, and digital and crypto ecosystem.

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