{"id":88500,"date":"2024-01-30T00:00:00","date_gmt":"2024-01-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/ghitha-bhm-capital-financial-services-report-2023-results\/"},"modified":"2024-01-30T00:00:00","modified_gmt":"2024-01-30T00:00:00","slug":"ghitha-bhm-capital-financial-services-report-2023-results","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/01\/30\/ghitha-bhm-capital-financial-services-report-2023-results\/","title":{"rendered":"Ghitha, BHM Capital Financial Services report 2023 results"},"content":{"rendered":"

Ghitha\u2019s bottom line surges in 2023:<\/strong> International Holding Company (IHC) retail subsidiary Ghitha Holding<\/a> \u2019s net income fell 87% y-o-y to AED 43.2 mn in 2023, the ADX-listed company said in its financial statements (pdf)<\/a>. The company\u2019s revenues doubled y-o-y to AED 4.6 bn during the year, according to its earnings release (pdf)<\/a>.<\/p>\n

Ghitha credited revenue growth to strategic acquisitions:<\/strong> Ghitha acquired WAS Commercial Investment back in April 2023, contributing AED 747.3 mn in revenues. The company also acquired a 45% stake in Anina<\/a>Culinary Art<\/a> for AED 36.7 mn during 2023, and formed a JV with its subsidiary Apex Commercial Investment to create APHE Restaurants Management.<\/p>\n

Looking ahead:<\/strong> In the current fiscal year, the company\u2019s \u201capproach integrates key elements such as strategic acquisitions, supply chain efficiency, and focused marketing efforts, positioning us for continued growth and long-term profitability,\u201d Ghitha CEO Falal Ameen said.<\/p>\n

More on Ghitha:<\/strong> Founded in 2002 and previously known as Zee Stores, Ghitha Holding owns and operates businesses including Al Ain Farms, Apex Investment, Al Ajban Poultry, Alliance Food Company, Zee Stores International, Agrinv (Al Hashemiya), and others. <\/p>\n

\n

\n

BHM Capital Financial Services\u2019 net income rose 101.1% y-o-y to AED 31.5 mn in 2023<\/strong>,according to the company\u2019s financials (pdf)<\/a>. The company's revenues also rose 60.2% y-o-y to AED 136.7 mn. BHM Capital's total assets also witnessed a rise of 61.2%, soaring to AED 1.2 bn. <\/p>\n","protected":false},"excerpt":{"rendered":"

Ghitha\u2019s revenues doubled during the year to AED 4.6 bn<\/p>\n","protected":false},"author":1,"featured_media":88501,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1596],"tags":[237,7,678,1431,108,642],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88500","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings-watch","tag-enterpriseam-uae","tag-food-and-beverage","tag-ghitha","tag-ihc","tag-retail","wpautop","entry"],"acf":{"mongo_id":"1cb16a06-eada-49eb-b091-7eb24b92ac56","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/2491.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Ghitha\u2019s operating income rose in 2023, while revenues doubled + BHM Capital Financial Services doubles net income","related_issue":[88485],"teaser":"Ghitha\u2019s revenues doubled during the year to AED 4.6 bn","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.c27cd539-2bb0-4bb1-ae0f-3c5ab66eb1a9.mp3"},"yoast_head":"\nGhitha, BHM Capital Financial Services report 2023 results - UAE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/30\/ghitha-bhm-capital-financial-services-report-2023-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ghitha, BHM Capital Financial Services report 2023 results\" \/>\n<meta property=\"og:description\" content=\"Ghitha\u2019s revenues doubled during the year to AED 4.6 bn\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/uae\/2024\/01\/30\/ghitha-bhm-capital-financial-services-report-2023-results\/\" \/>\n<meta property=\"og:site_name\" content=\"UAE\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-30T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2491.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/01\/30\/ghitha-bhm-capital-financial-services-report-2023-results\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/01\/30\/ghitha-bhm-capital-financial-services-report-2023-results\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Ghitha, BHM Capital Financial Services report 2023 results\",\"datePublished\":\"2024-01-30T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/01\/30\/ghitha-bhm-capital-financial-services-report-2023-results\/\"},\"wordCount\":224,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/01\/30\/ghitha-bhm-capital-financial-services-report-2023-results\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2491.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EARNINGS WATCH\",\"EnterpriseAM UAE\",\"food and beverage\",\"Ghitha\",\"IHC\",\"retail\"],\"articleSection\":[\"EARNINGS WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/01\/30\/ghitha-bhm-capital-financial-services-report-2023-results\/\",\"url\":\"https:\/\/enterpriseam.com\/uae\/2024\/01\/30\/ghitha-bhm-capital-financial-services-report-2023-results\/\",\"name\":\"Ghitha, BHM Capital Financial Services report 2023 results - UAE\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/01\/30\/ghitha-bhm-capital-financial-services-report-2023-results\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/01\/30\/ghitha-bhm-capital-financial-services-report-2023-results\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2491.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-01-30T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/01\/30\/ghitha-bhm-capital-financial-services-report-2023-results\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/uae\/2024\/01\/30\/ghitha-bhm-capital-financial-services-report-2023-results\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/01\/30\/ghitha-bhm-capital-financial-services-report-2023-results\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2491.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2491.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2024\/01\/30\/ghitha-bhm-capital-financial-services-report-2023-results\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/uae\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Ghitha, BHM Capital Financial Services report 2023 results\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#website\",\"url\":\"https:\/\/enterpriseam.com\/uae\/\",\"name\":\"UAE\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/uae\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\",\"name\":\"UAE\",\"url\":\"https:\/\/enterpriseam.com\/uae\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42998.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42998.svg\",\"caption\":\"UAE\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Ghitha, BHM Capital Financial Services report 2023 results - UAE","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/uae\/2024\/01\/30\/ghitha-bhm-capital-financial-services-report-2023-results\/","og_locale":"en_US","og_type":"article","og_title":"Ghitha, BHM Capital Financial Services report 2023 results","og_description":"Ghitha\u2019s revenues doubled during the year to AED 4.6 bn","og_url":"https:\/\/enterpriseam.com\/uae\/2024\/01\/30\/ghitha-bhm-capital-financial-services-report-2023-results\/","og_site_name":"UAE","article_published_time":"2024-01-30T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2491.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/uae\/2024\/01\/30\/ghitha-bhm-capital-financial-services-report-2023-results\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/01\/30\/ghitha-bhm-capital-financial-services-report-2023-results\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Ghitha, BHM Capital Financial Services report 2023 results","datePublished":"2024-01-30T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/01\/30\/ghitha-bhm-capital-financial-services-report-2023-results\/"},"wordCount":224,"publisher":{"@id":"https:\/\/enterpriseam.com\/uae\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/01\/30\/ghitha-bhm-capital-financial-services-report-2023-results\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2491.jpg?fit=%2C&ssl=1","keywords":["EARNINGS WATCH","EnterpriseAM UAE","food and beverage","Ghitha","IHC","retail"],"articleSection":["EARNINGS WATCH"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/uae\/2024\/01\/30\/ghitha-bhm-capital-financial-services-report-2023-results\/","url":"https:\/\/enterpriseam.com\/uae\/2024\/01\/30\/ghitha-bhm-capital-financial-services-report-2023-results\/","name":"Ghitha, BHM Capital Financial Services report 2023 results - UAE","isPartOf":{"@id":"https:\/\/enterpriseam.com\/uae\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/01\/30\/ghitha-bhm-capital-financial-services-report-2023-results\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/01\/30\/ghitha-bhm-capital-financial-services-report-2023-results\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2491.jpg?fit=%2C&ssl=1","datePublished":"2024-01-30T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/uae\/2024\/01\/30\/ghitha-bhm-capital-financial-services-report-2023-results\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/uae\/2024\/01\/30\/ghitha-bhm-capital-financial-services-report-2023-results\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/uae\/2024\/01\/30\/ghitha-bhm-capital-financial-services-report-2023-results\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2491.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2491.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/uae\/2024\/01\/30\/ghitha-bhm-capital-financial-services-report-2023-results\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/uae\/"},{"@type":"ListItem","position":2,"name":"Ghitha, BHM Capital Financial Services report 2023 results"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/uae\/#website","url":"https:\/\/enterpriseam.com\/uae\/","name":"UAE","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/uae\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/uae\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/uae\/#organization","name":"UAE","url":"https:\/\/enterpriseam.com\/uae\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42998.svg","contentUrl":"https:\/\/ent.news\/internal\/42998.svg","caption":"UAE"},"image":{"@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2491.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2491.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/uae\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2491.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts\/88500","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/comments?post=88500"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/posts\/88500\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/issue\/88485"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/media\/88501"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/media?parent=88500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/categories?post=88500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/tags?post=88500"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/brand?post=88500"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/uae\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=88500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}