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Multiply Group, an Abu Dhabi-based investment holding company, has reported AED18.56 billion ($5.05 billion) in net profit for 2022, driven by the strong performance of the group's investments and growth in its operating portfolio.
Multiply Group, an Abu Dhabi-based investment holding company, reported Dh18.56 billion in net profit for 2022, driven by the strong performance of the Gro..
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Multiply numbers are all the more stunning as revenues total Dh1.1b
ABU DHABI, 10th February, 2023 (WAM) -- Multiply Group, an Abu Dhabi-based investment holding company, reported AED18.56 billion in net profit for 2022, driven by the strong performance of the Group's investments and growth in its operating portfolio.Despite several global headwinds, most of its subsidiaries showed growth in operating profits in 2022, highlighting the strength of these businesses and the resilience of their industries. For example, Emirates Driving Company (EDC) grew by 51 percent; Viola Communications grew by 203 percent, supported by Post-COVID-19 spending on...