Abu Dhabi - Mubasher: Multiply Group posted net profits attributable to the equityholders worth AED 18.42 billion in 2022, an annual leap from AED 184.91 million.
Revenues amounted to AED 1.12 billion during the January-December 2022 period, higher than AED 371.91 million a year earlier, according to the consolidated financial results.
The basic earnings per share (EPS) enlarged to AED 1.65 in 2022 from AED 0.06 in 2021, whereas the total assets jumped to AED 41.20 billion from AED 11.60 billion.
Andre Sayegh, Chairman of Multiply Group, highlighted: “Multiply Group is well-positioned for 2023 and beyond to build on the strong performance of 2022 for a number of reasons.”
“Firstly, the UAE economy is on a strong growth momentum and secondly, corporate profitability will remain solid due to increasing economic activity that is supported by positive government regulations and projects,” Sayegh added.
He concluded: “We have also achieved continued strong performance across the group's diverse portfolio of operating subsidiaries across multiple industries. We will expand further organically by deepening our existing businesses as well as inorganically through scalable acquisitions.”
In the first nine months (9M) of 2022, the ADX-listed company registered net profits attributable to the shareholders worth AED 9.64 billion, compared to AED 100.79 million in 9M-21.
