Abu Dhabi – Mubasher: The net profits attributable to the shareholders of Multiply Group hit AED 410.12 million in the first nine months (9M) of 2023, versus AED 9.64 billion in 9M-22.
The group’s year-to-date net profit excluding fair value changes hiked by 199% year-on-year (YoY) to AED 811.17 million, according to the interim consolidated financial results.
The revenues stood at AED 897.29 million during January-September 2023, compared to AED 791.38 million in the year-ago period.
Basic earnings per share (EPS) went down YoY to AED 0.04 in 9M-23 from AED 0.86.
Moreover, the total assets amounted to AED 42.13 billion in 9M-23, up from AED 41.20 billion as of 31 December 2022.
Financial Statements for Q3-23
In the third quarter (Q3) of 2023, Multiply Group registered AED 84.84 million in net profit attributable to the owners, an annual plunge from AED 9.25 billion.
Revenues increased by 23.82% to AED 351.79 million in Q3-23 from AED 284.11 million in Q3-22, while the basic EPS retreated to AED 0.008 from AED 0.830.
The higher revenues were driven by the organic growth across the group’s four core verticals and the consolidation of Media 247 and LVL.
Samia Bouazza, Group CEO and Managing Director of Multiply Group, commented: “Our Q3-23 results highlight our group’s continual growth, with net profit excluding fair value changes soaring to AED 331 million, rising 337% from the same period last year.”
“As we continue to diversify our asset portfolio and prepare selected verticals for IPO, we are also making significant strides in investing and embedding new innovations and technologies to augment operations across our verticals,” Bouazza noted.
In the first half (H1) of 2023, the ADX-listed firm logged net profits attributable to the equityholders valued at AED 325.28 million, lower than AED 389.30 million in H1-22.
