Alpha Dhabi Holding, a unit of Abu Dhabi's International Holding Company, reported a 93 per cent surge in its third-half profit as revenue jumped amid a wave of new investments and acquisitions.
Net profit attributable to owners of the company for the quarter ended in September climbed to Dh877.66 million ($238.95 million), the company said in a statement on Thursday to the Abu Dhabi Securities Exchange, where its shares are traded.
The company attributed the profit growth to a “combination of organic expansion and strategic acquisitions”.
Revenue during the quarter jumped 8.1 per cent annually to Dh10.27 billion.
Hamad Al Ameri, chief executive of Alpha Dhabi, credited the results to the company's “multifaceted strategy” and “diversified portfolio that spans vital sectors”.
The company has continued to expand its portfolio and invest in strategic sectors including hospitality and energy, as well as launching a climate capital platform.
Alpha Dhabi's net profit for the January-September period climbed 43.5 per cent on an annual basis to Dh9.75 billion.
Revenue during the first nine months increased nearly 22 per cent on a yearly basis to Dh32.41 billion.
Total assets reached Dh133.55 billion by the end of September, compared with Dh131.02 billion as of December 31 last year.
Alpha Dhabi, which was previously known as Trojan Holding, has grown into a regional conglomerate with interests in construction, health care, hospitality and industry after completing a series of acquisitions in 2021 and 2022.
Last year, the company increased its stake in Aldar Properties to become the parent company of the property developer.
The move reaffirmed Alpha Dhabi’s position as the largest shareholder in the biggest listed real estate company in the emirate.
Earlier this year, the company announced a venture with Mubadala Investment Company to co-invest in global credit opportunities.
In May, Alpha Dhabi also acquired a 36.4 per cent stake in the National Corporation for Tourism and Hotels for Dh730 million to become the single largest shareholder in the hospitality owner, manager and operator.
In July, it also signed a preliminary agreement with Turkish conglomerate Limak Group to explore business opportunities in various sectors amid the strengthening of ties between the UAE and Turkey.
Alpha Dhabi said it is planning to “foster further growth and capture investment opportunities” throughout the rest of the year.
“As we navigate the remainder of the year, our focus is on harnessing the significant momentum we have built and strategically driving further growth while seizing exciting investment opportunities,” Mr Al Ameri said.
“Our strategy revolves around expanding our portfolio through acquisitions and geographic diversification, with the overarching goal of extending our global footprint within the investment landscape.”
UAE currency: the story behind the money in your pockets
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
BOSH!'s pantry essentials
Nutritional yeast
This is Firth's pick and an ingredient he says, "gives you an instant cheesy flavour". He advises making your own cream cheese with it or simply using it to whip up a mac and cheese or wholesome lasagne. It's available in organic and specialist grocery stores across the UAE.
Seeds
"We've got a big jar of mixed seeds in our kitchen," Theasby explains. "That's what you use to make a bolognese or pie or salad: just grab a handful of seeds and sprinkle them over the top. It's a really good way to make sure you're getting your omegas."
Umami flavours
"I could say soya sauce, but I'll say all umami-makers and have them in the same batch," says Firth. He suggests having items such as Marmite, balsamic vinegar and other general, dark, umami-tasting products in your cupboard "to make your bolognese a little bit more 'umptious'".
Onions and garlic
"If you've got them, you can cook basically anything from that base," says Theasby. "These ingredients are so prevalent in every world cuisine and if you've got them in your cupboard, then you know you've got the foundation of a really nice meal."
Your grain of choice
Whether rice, quinoa, pasta or buckwheat, Firth advises always having a stock of your favourite grains in the cupboard. "That you, you have an instant meal and all you have to do is just chuck a bit of veg in."
10 tips for entry-level job seekers
- Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
- Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
- Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
- For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
- Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
- Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
- Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
- Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
- Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
- Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.
Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz
COMPANY PROFILE
Name: Lamsa
Founder: Badr Ward
Launched: 2014
Employees: 60
Based: Abu Dhabi
Sector: EdTech
Funding to date: $15 million
Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
