Emirates Stallions Group, a premier conglomerate active in workforce solutions, construction, and real estate, and a subsidiary of International Holding Company, announced on Thursday an operational profit of Dh119 million for the first half of 2024, marking a 128% increase from the same period in 2023. The robust profit performance exceeded expectations, showcasing ESG’s exceptional financial results, which underscore the Group’s swift expansion, strategic direction, and strong business principles. Furthermore, the Group recorded a significant revenue surge to Dh640 million, a remarkable 140% year-over-year increase fueled by organic growth and strategic expansions. ESG’s total assets expanded to Dh3.38 billion, a 10% rise compared to December 2023, while total equity increased to Dh2.4 billion, reflecting a 5% growth over the same period. The company’s book value per share is now at Dh9.59, a 5% increase since December 2023.
Matar Suhail Ali Al Yabhouni Aldhaheri, Chairman of ESG, stated: “ESG has made rapid and decisive progress in 2024, with our gross profit growth this period underscoring our unwavering ambition and the strong foundations of our business. This extraordinary growth is a testament to our dedication to operational efficiency and our quest for excellence in all areas. As we continue to seek new opportunities, especially in forward-looking sectors, we are well-equipped to refine and redefine our competitive advantage.” Kayed Ali Khorma, CEO of ESG, added: “Our revenue and operational profit growth in the first half of this year represents another major financial achievement in a string of recent successes for the Group. These achievements highlight our capability to rapidly align our top business strategies with growth opportunities that benefit our shareholders and support the UAE economy. Looking ahead, our strong financial footing lays a solid groundwork to bolster our market-leading strengths and achieve even greater accomplishments.”
