ICD introduced as we speak its consolidated monetary outcomes for the six-month interval ended 30 June 2023 having generated file Revenues of AED 145.1 Billion and a file Internet Revenue of AED 28.3 Billion.
Revenues reached a file AED 145.1 Billion, up 20 per cent with a rise of AED 24.0 Billion in comparison with the prior 12 months interval, as a result of important rise in journey and tourism actions mirrored within the Transportation and Different segments, and a soar in Banking & Monetary Companies revenues on greater rates of interest and robust lending development. General, revenues elevated quicker than operational prices, boosting margins.
The Group (ICD) reported a file Internet Revenue of AED 28.3 Billion, up 91 p.c with Banking and Monetary Companies’ and Transportation’s respective contributions hovering by AED 8.2 Billion and AED 7.7 Billion. Actual property and hospitality actions additionally displayed robust efficiency, while decrease commodity costs lowered profitability in Oil & Gasoline and aluminium manufacturing from their prior interval data.
The Internet Revenue attributable to the fairness holder was AED 22.6 Billion.
Belongings grew 6.5 per cent, reaching a file AED 1,252.9 Billion primarily pushed by the expansion of Banking belongings. Liabilities elevated to AED 974.5 Billion on a lot greater Banking buyer deposits while Non-Banking borrowings and lease liabilities lowered by 5.7 per cent. The Group’s share of Fairness elevated by 4.2 per cent rising to a brand new file of AED 225.7 Billion.
H.E. Mohammed Ibrahim Al Shaibani, Managing Director, Funding Company of Dubai, commented: “The Funding Company of Dubai introduced as we speak one other set of file outcomes for the primary half interval of 2023 and a really spectacular achievement general. The Group noticed its exercise speed up, lifting income and profitability to new heights, with very strong performances throughout sectors and distinctive contributions from Transportation and Banking and Monetary Companies.
The Group clearly benefited from the robust financial momentum the Emirate is experiencing due to the imaginative and prescient and anticipation from the Management.
Trying ahead, the confirmed agility of our companies and power of the Group’s monetary place will assist climate the unsure world financial outlook. We stay assured within the Group’s potential to establish new funding alternatives and broaden its industrial actions.”
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