Multiply Group reports Dhs9.29b net profit for Q3 of 2022
- 28 Oct 2022
Multiply Group, an Abu Dhabi-based investment holding company, reported Dhs9.29 billion in net profit for the third quarter of 2022 as it continued to deliver strong performance across its investments and subsidiaries.
The Group’s Q3 2022 figures showed revenue of Dhs284 million and gross margin of Dhs138.7 million, a company statement said on Friday.
The quarter saw continued sustainable growth across the Group’s subsidiaries, which grew by 67 per cent in revenue and profitability year-on-year.
Meanwhile, investment and other income were recorded at Dhs9.25 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 the third quarter of 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, “Multiply Group delivered a strong quarter with substantial investment gains and continued growth of our verticals.
“Going forward, we are actively ensuring deal flow continues at a similar pace throughout the fourth quarter and into next year.”
Samia Bouazza added, “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.”
