Multiply Logs 60% Revenue Growth In Q2 2024

2024-07-30 03:32:54

(MENAFN- Khaleej Times) Multiply Group, a leading Abu Dhabi-based investment holding firm, has announced its financial results for the second quarter of 2024, logging a 60 percent revenue growth year-on-year (YoY) across its operating portfolio to Dh442 million.

The group's net profit (excluding fair value changes) reached Dh319 million, up 49 percent YoY, largely led by the consolidation of new acquisitions as we deliver on our vertical building strategy.

Blended gross profit margin remained healthy at 43.5 percent, reflecting the change in revenue mix with increased contribution from the Media vertical post new acquisitions (33 percent of Q2'24 revenue versus 8 percent in Q2'23). Investment and other income including dividend income was at Dh218 million.

MENAFN30072024000049011007ID1108500511

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.