Emirates Stallions Group Achieves 128% Profit Surge in H1 2024

Emirates Stallions Group (ESG) reported an operational profit of AED119 million for H1 2024, a 128% year-on-year increase. Their revenue rose 140% to AED640 million, driven by organic growth. ESG's total assets expanded by 10% YOY to AED3.38 billion.

Emirates Stallions Group (ESG), a subsidiary of International Holding Company (IHC), has reported a stellar operational profit of AED119 million for the first half of 2024, representing a year-on-year growth of 128%. The group's revenue also saw a substantial increase, jumping 140% year-on-year to AED640 million, primarily due to organic growth and strategic expansion.

ESG's total assets have soared to AED3.38 billion, a 10% increase compared to the previous year. This impressive growth reflects the group's unwavering focus on expansion, portfolio development, and a long-term investment strategy. The group's financial strength is further underscored by a rise in total equity to AED2.4 billion, a 5% year-on-year increase. Furthermore, the company's book value per share has grown by 5%, reaching AED9.59.

Chairman Matar Suhail Ali Al Yabhouni Aldhaheri commented on the remarkable performance, stating, "Our growth in gross profit underscores our relentless ambition and solid business fundamentals. This unprecedented growth highlights our commitment to operational optimisation and excellence across all verticals." CEO Kayed Ali Khorma also remarked, "Our financial milestones reflect our ability to connect our leading business propositions to valuable growth opportunities, benefiting shareholders and contributing to the UAE economy."